Thinkphi a clean-tech company which creates sustainably engineered products that help conserve water, energy and waste, on Monday said it raised an angel round of funding from serial entrepreneur Nimmagadda Prasad, an early backer of successful companies such as Matrix Laboratories, Maa TV, and Care Hospitals.
Most recently he invested in Sachin Tendulkar’s ISL team Kerala Blasters.
Established in 2015, Thinkphi has made early sales of its patented rainwater and solar harvesting product to key customers like Godrej Interio and Rustomjee. The angel round of funding will be deployed primarily towards expanding operations, R&D team and starting of sales and distribution activities. Thinkphi hopes to launch future products around energy saving devices and consumer waste management.
The company’s first product called “Ulta Chaata”, an inverted canopy looking structure, provides potable water by capturing rain water during the monsoon and solar energy during the rest of the year. Each unit has the capability to harvest and filter up to 100,000 liters during the rainy season. With a maximum solar capacity of 1.5KW the product also includes a lighting system which provides various levels of programmable lighting options and a mobile charge unit, thereby making it a completely self-sustaining installation for the outdoors.
Powered by a central operating system called the “phi-box”, the controls help the lighting run for 4 to 5 days on a single solar charge and can provide potable quality drinking water through its inbuilt filter. The operating system also monitors, captures data, and allows users to communicate with a cluster of units over the cloud. The company has also filed multiple global patents on design and utility which smartly converges water harvesting and renewable energy, ideal for smart cities, industries or large campuses.
“Thinkphi is an innovative company creating disruptive solutions to environmental problems. We are confident that the investment in R&D and good product design will deliver positive results while building company value,” said co-founder Samit Choksi and Priya Vakil Choksi, in a statement.
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