Greenvironment Secures $1 Million from Zerodha's Rainmatter.

Greenvironment Innovation, a Chennai-based startup leveraging IoT and sensor technology to address critical water and environmental challenges, has successfully raised $1 million in funding from Rainmatter, an impact venture capital fund established by online brokerage firm Zerodha.

Operating out of the esteemed IIT-Madras Research Park, Greenvironment specializes in installing smart IoT sensor systems for a variety of water management facilities, including sewage treatment plants, water treatment plants, rainwater harvesting systems, and other effluent treatment units. These integrated systems are then meticulously monitored through a proprietary Real-Time Monitoring platform. This platform collects crucial data from sensors on water quality, flow rates, and energy consumption, allowing Greenvironment to process this information and provide clients with actionable insights, early warnings of potential issues, and effective solutions when problems arise.

"We currently operate in over 300 buildings across India, including offices, hospitals, apartment communities, malls, hotels, and factories," stated Varun Sridharan, co-founder of Greenvironment. "We are seeing robust increase in deployments and revenue with 60 per cent revenue coming from subscription model and other 40 per cent on hardware/sensors. We are also operationally profitable."

The startup boasts an impressive Annual Recurring Revenue (ARR) of approximately ₹6 crore, underscoring the strong demand for its innovative water management solutions. This investment from Rainmatter is expected to further accelerate Greenvironment's growth and expand its reach in helping businesses and communities manage their water resources more efficiently and sustainably across India.