Faclon Raises Seed Funding from Vish Sathappan, Sameer Sainani on LetsVenture
The company was founded in 2016 and aims to weed out inefficiencies in water management, thereby creating a sustainable solution for utilisation of the water resource.
A bunch of IIT-B graduates are taking Smart Water Management to the next level. Faclon Labs — their brainchild for monitoring, analysing and regulating water resources raised an undisclosed amount of funding in a round led by Vish Sathappan and Sameer Sainani along with Neev Angel Advisors and LetsVenture. With Paula Mariwala joining Faclon’s board, the Mumbai based startup is looking forward to utilizing the funds for commercialization and further product development.
"Smart Cities powered by IoT enabled solutions are some things that are expected to leapfrog to the next level. In that space, water supply will be one of the most critical aspects. What excites me about Faclon Labs is that they are building a solution in smart water management which will be addressing the core needs of a Smart City, wherein creating value for all. We liked the commitment and passion of the founders to build a robust solution which eventually got us onboard." said Sameer Sainani, Director Response at Bennett, Coleman and Co. Ltd.
The company was founded in 2016 and aims to weed out inefficiencies in water management, thereby creating a sustainable solution for utilisation of the water resource. They are trying to provide an efficient solution to manage the country’s water needs. With its end-to-end IoT solution, they cater to the clients’ need of real time tracking and monitoring along with infographics of all the connected Faclon devices. The clients can also control the device operations through the platform. They are looking forward to utilizing the funds for commercialization and further product development.
“As the world starts to face the spectre of climate change, sustainable development and optimal utilization of natural resources is fast becoming the need of the hour. Faclon Labs team is building innovative IoT based solutions for efficient utilization of the most fundamental natural resource - water! The young team, comprising of fresh graduates from IIT Bombay, brings a lot of energy and enthusiasm into the idea and has the necessary skill set to create a robust business. I wish them all the best in their journey.” said Shanti Mohan, founder and CEO of LetsVenture
The seeds of the concept were sown a few years ago when the quartet Archit, Rishi, Utkarsh, and Ankit, for their college project, spent four months in Parbhani, a district of Maharashtra. The area survived under dismal conditions due to poor water accessibility. The water issues were crippling, but the solutions to these were simple. They realized that it was a deep rooted issue in the basic infrastructure of India. The lack of proper water management and regulation has a ripple effect that leads to many more complications in every part of the country.
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