Megaliter Varunaa, a subsidiary of NSE-listed Banka BioLoo Limited and mentored by Brigade REAP, has secured Rs 15 crore in seed funding from long-term institutional investors. The capital will accelerate project development, technology innovation, and business growth in urban water management.
The Hyderabad-based startup specializes in converting sewage treatment plants (STPs) into productive, circular water utilities through its flagship ‘Megaliter Model’. The zero-CapEx, subscription-based solution maximizes wastewater reuse, offering cities an integrated service covering financial, operational, and compliance needs. By entering long-term contracts, Megaliter Varunaa ensures reliable and sustainable water recycling for non-potable uses, including flushing, gardening, and chiller systems, reducing dependence on freshwater reserves while creating new value from wastewater.
“This seed capital marks a pivotal milestone in our journey to meet India’s pressing need for sustainable water solutions,” said Vishal Murarka, Managing Director of Megaliter Varunaa. He added that the company has treated over 3 billion liters of wastewater to date, with a current annual capacity exceeding 2.5 billion liters. The firm aims to recycle more than 10 billion liters annually within the next 12 months, enhancing water resilience in urban centers.
Abhay Garg, Chief Mentor at Brigade REAP, highlighted, “Megaliter Varunaa exemplifies the sustainable, impact-driven innovation India urgently needs. Their model reimagines urban infrastructure with circularity, reliability, and climate resilience at its core.” Brigade REAP has supported the startup in refining its go-to-market strategy, navigating complex stakeholders, and unlocking scalable partnerships.
With the fresh funding, Megaliter Varunaa plans to expand into major metros, including Mumbai and Bengaluru, strengthening India’s sustainable water ecosystem and promoting circular utility models for urban wastewater management.
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