FluxGen Raises ₹28 Crore to Fuel Expansion
Climate tech company FluxGen has secured ₹28 crore in a pre-Series A funding round. The investment, led by IAN Alpha Fund, will be used to support the company’s expansion across India and into the Middle East. Other participants in the round include Rainmatter, Gameskraft Technologies, Intersection Ventures, and Force Ventures, along with existing investors Axilor Ventures and Arali Ventures.
Co-founded in 2021, FluxGen specializes in providing end-to-end water intelligence solutions.
“We already have over 100 customers – companies like Tata Group, Aditya Birla, and Microsoft. So, with this fundraise, we want to scale across the country and across the Middle East, which is one of our priority geographies where we will expand,” said Ganesh Shankar, Founder & CEO of FluxGen.
The Bengaluru-based startup is also targeting a significant revenue increase.
“Currently, we are clocking about ₹10 crore in revenue. Our goal is to increase that 2.5 times, and eventually reach the ₹100 crore mark in less than three years; that’s our goal,” Shankar added.
FluxGen’s mission is to help industries mitigate water-related risks, drive sustainability, and maintain financial viability.
“Water is fundamental to every business. Our goal is to make our industries de-risked from the water crisis, achieve water sustainability, and get financial returns, ensuring they thrive without worrying about water risk,” Shankar noted.
He emphasized that the company utilizes AI, data science, and satellite imagery to offer actionable insights, enabling industries to make informed water usage decisions.
“We use our Gen AI platform to exactly tell what an industry has to do in any situation,” he said.
The funding round saw participation from Rainmatter, Gameskraft Technologies, Intersection Ventures, and Force Ventures, in addition to existing investors Axilor Ventures and Arali Ventures.
