NewsVoir
Chennai (Tamil Nadu) [India], August 6: Solinas Integrity, an IIT Madras-incubated local weather deep-tech and robotics firm, right now introduced a USD 5.5 million Series A1 funding spherical led by Hero Enterprise Partner Ventures and co-led by Mela Ventures, with participation from Luthra Group. Existing investor SBI Ventures, by way of the SVL-SME Fund, doubled down on its place, alongside continued backing from Rainmatter and 8X Ventures Fund I. The spherical follows Solinas’s Series A, led by SBI Ventures by way of the SVL-SME Fund (Neev II) in May 2024, and underscores the deepening alignment between India’s climate-tech innovation ecosystem and world sustainability-focused capital.
Founded by Divanshu Kumar and Moinak Banerjee, Solinas builds robotics and AI techniques that examine, clear, and digitize underground water and wastewater infrastructure, fixing issues of water leakages, contamination & elimination of handbook scavenging . Its know-how is deployed throughout 35+ cities and 15+ states in India, with increasing operations within the Middle East, serving to utilities run safer, smarter networks.
‘Solinas has come this far by proving that the know-how & the mannequin works, metropolis after metropolis, contract after contract, at a large scale. As we enter our subsequent section, we have now the management group in addition to the backing of mission aligned institutional traders in place to construct India’s largest tech firm within the underground asset administration area. From right here, we’re additionally planning to increase into adjoining, highstakes sectors — beginning with Oil & Gas and Defence, the place the identical self-discipline round important, unseen infrastructure applies,’ stated Divanshu Kumar, Co-Founder and CEO of Solinas Integrity.
Solinas will use the contemporary capital to scale aggressively — deepening penetration in current markets whereas increasing into new states and municipal firms throughout India, and constructing out its worldwide footprint with a strategic concentrate on the Middle East and Southeast Asia. The firm can even speed up growth of next-generation robotic inspection and cleansing applied sciences, strengthen its AI-powered software program and asset administration platforms, and broaden its industrial options portfolio — positioning Solinas as India’s first end-to-end worth creator for underground infrastructure, engineered to world know-how requirements. Solinas is concentrating on Rs. 100 crore in income by FY28, pushed by development in its core water and sanitation enterprise alongside continued momentum in industrial asset administration.
Commenting on the fundraise, Sunil Kant Munjal (Chairman, Hero Enterprise), ‘At Hero Enterprise, we have now lengthy believed that India’s most consequential infrastructure challenges can be solved not by incremental fixes, however by daring, technology-first pondering. Solinas Integrity embodies precisely that conviction, a group that has taken the toughest downside in city infrastructure, underground water and wastewater networks, and reimagined it from the bottom up with robotics. Their work instantly addresses water safety, employee security, and the long-term resilience of our cities. This funding displays our dedication to backing entrepreneurs who’re constructing for India’s future with each scale and objective.’
Commenting on the fundraise, Krishnakumar Natarajan (Managing Partner, Mela Ventures): ‘Current strategies of sustaining India’s water infrastructure are handbook, hazardous, time-consuming, and dear, with nearly no visibility into what lies beneath. Solinas is altering that by way of a vertically built-in robotics platform that maps underground infrastructure, diagnoses points, and delivers end-to-end options. At Mela Ventures, we have now adopted Divanshu and the group’s journey for 4 years, and their development has been exceptional. Backing fearless founders fixing globally onerous issues from India is core to our funding philosophy, and Solinas is without doubt one of the greatest examples of that,’ — Krishnakumar Natarajan, Managing Partner, Mela Ventures.
Commenting on the fundraise, Akshay Panth (CIO, Neev Funds, SBI Ventures Limited) stated, ‘Solinas Integrity has achieved what few deep-tech firms handle – translating real engineering innovation into repeatable business traction on the precise intersection of water safety, employee security, and local weather resilience. This follow-on displays Neev’s conviction that technology-led transformation in underserved infrastructure sectors is the place India’s subsequent decade of influence can be constructed.’
Kumbhat Advisors, led by Akash Sethia, served as Exclusive Financial Advisor to the transaction.
About Solinas IntegritySolinas Integrity, based by Divanshu Kumar and Moinak Banerjee and incubated at IIT Madras, is a local weather deep-tech firm remodeling the administration of city water and wastewater infrastructure. Through its proprietary robotics, AI-powered analytics, and digital asset administration options, the corporate permits utilities and municipalities to examine, clear, digitize, and handle underground networks extra effectively. The firm can be leveraging its robotics and AI capabilities within the industrial sector, the place it already works with main automotive, pharmaceutical, and manufacturing firms for asset inspection and administration, offering a robust basis for additional enlargement within the industrial infrastructure market. Its improvements, together with robotic inspection platforms and the Manhole Cleaning Robot, are serving to drive safer, smarter, and extra sustainable sanitation operations.
Recognized and honoured by Prime Minister Narendra Modi, Solinas options have been deployed throughout 35+ cities and 15+ states in India, enabling large-scale inspection, cleansing, and upkeep of underground water and wastewater techniques. The firm has labored with main city utilities and municipal our bodies together with Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB), Bangalore Water Supply and Sewerage Board (BWSSB), Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB), Sangli, Miraj Municipal Corporation, Chhatrapati Sambhajinagar Municipal Corporation, Tripura Jal Board, Greater Chennai Corporation, and Noida Authority. To date, Solinas has executed 100+ initiatives, recognized over 25,000 defects throughout underground networks, and served 20+ industrial purchasers. Its know-how helps important reductions in water loss, saving as much as 600,000 litres per kilometre of inspection per day whereas decreasing operational prices by as much as 5 occasions..
About Hero Enterprise Partner VenturesHero Enterprise Partner Ventures is the funding arm of Hero Enterprise, led by Chairman Sunil Kant Munjal. Rooted in over six many years of entrepreneurial legacy, Hero Enterprise channels the group’s deep industrial heritage into backing the subsequent technology of transformative companies. Headquartered in New Delhi, Hero Enterprise Partner Ventures invests throughout growth-stage and deep-tech ventures which are entrepreneurial in nature, sustainable in scope, and probably world in scale. The Investment Office focuses on firms with modern enterprise fashions and applied sciences that embed the rules of inclusive development, with specific curiosity in local weather resilience, clear infrastructure, utilized AI, and impact-driven sectors. Hero Enterprise seeks to companion with founders constructing enduring enterprises that create measurable worth for India and the world.
About Mela VenturesMela Ventures is an early-stage enterprise capital agency targeted on DeepTech, EnterpriseTech, and ClimateTech firms. With a portfolio spanning GalaxEye, Mindgrove, Vunet, and different category-defining startups, Mela Ventures focuses completely on the B2B know-how section, with a pointy eye for class creators constructing scalable options to globally related issues. Mela’s Managing companions are Krishnakumar N and Parthasarathy NS, who beforehand based Mindtree, a multi-billion-dollar IT companies chief.
www.melaventures.in
About SVL-SME FundSVL-SME Fund (Neev II) – is a non-public fairness fund managed by SBI Ventures Limited, (a subsidiary of State Bank of India; and manages ~INR 300 Bn throughout totally different methods together with climate-tech investments, actual property and Fund of funds). Neev II goals to bridge the personal fairness hole required for India’s transition in the direction of local weather resilience and low emissions. The fund invests development capital in excessive influence and commercially engaging enterprise fashions throughout precedence sectors together with clear power, round financial system, power effectivity and sustainable infrastructure.
sbiventures.co.in/funds-managed/neev-fund-ii
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