M&G Investments and Ncubate Capital Inject INR 233 Cr into Livpure for Growth and Innovation The Gurugram-based company plans to use the raised capital to expand categories, drive product innovation, diversify offerings, and strengthen its market presence to meet evolving consumer needs in the home category.
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Livpure, a water purifier and air conditioner brand, has announced the raising of INR 208 crore from M&G Investments through its Catalyst investment strategy. Additionally, the company secured around INR 25 crore from Ncubate Capital Partners.
This substantial capital infusion is set to propel Livpure's ambitious plans for category expansion, product development, and innovation while also diversifying its offerings to meet evolving consumer demands in the home category, the company said in a press release.
Navneet Kapoor, Co-founder and Chairman of Livpure, expressed enthusiasm about the partnership with M&G's catalyst team, emphasising the significance of this investment in driving the company's next phase of growth. "This investment will allow us to innovate faster, expand our product portfolio and retail presence, and make our high-quality home solutions accessible to more Indians," Kapoor stated.
Rakesh Kaul, Managing Director, Livpure, added, "With this investment, we will further enhance our focus on developing cutting-edge products that address the growing needs of Indian consumers. We are particularly keen on further enhancing our water-as-a-service offering along with eco-friendly sustainable solutions in our home and kitchen offerings."
Founded in 2012 by Rakesh Malhotra, Rakesh Kaul, and Navneet Kapoor, Livpure offers water purifiers, subscription-based services, air coolers, kitchen appliances, mattresses, and sleep accessories, among others.
Praveg Patil, Head of Asia Pacific M&G Impact and Private Equity, stated, "Core to M&G Catalyst's mandate is the positive societal impact that our portfolio companies drive. As Livpure strives to reduce the cost of access to clean water, arguably humanity's most fundamental and vital resource, we are well aligned. This partnership underscores our commitment to sustainable technologies, and we look forward to supporting Livpure's vision to drive the brand to scale and achieve new milestones."
InCred Capital served as the exclusive advisor to Livpure for this funding round.
