FluxGen Secures Funding for Expansion
Climate tech company FluxGen has successfully raised ₹28 crore in a pre-Series A funding round. The investment, spearheaded by IAN Alpha Fund, will enable FluxGen to significantly broaden its reach across India and the Middle East.
“We already work with over 100 clients, including major corporations like Tata Group, Aditya Birla, and Microsoft. This funding will facilitate our expansion throughout India and the Middle East, a key area for us,” stated Ganesh Shankar, Founder & CEO of FluxGen.
Expansion Plans and Revenue Goals
The Bengaluru-based startup specializes in offering comprehensive water intelligence solutions. FluxGen is targeting a substantial increase in revenue.
Shankar added, “We’re currently generating around ₹10 crore in revenue. Our aim is to increase this by 2.5 times, eventually reaching the ₹100 crore mark within the next three years.”
Addressing Water Sustainability Challenges
FluxGen’s mission centers on helping industries mitigate water-related risks. They aim to promote sustainability while also ensuring financial viability.
“Water is essential to every business. Our goal is to help industries become resilient to water crises, achieve water sustainability while getting financial returns, ensuring they can flourish without facing water risks,” Shankar explained.
He emphasized that FluxGen employs artificial intelligence (AI), data science, and satellite imagery to deliver actionable insights. This enables industries to make well-informed decisions concerning water usage.
“We utilize our Gen AI platform to provide precise guidance to any industry, tailored to their specific situation,” he said.
IAN Alpha Fund led the funding round, with contributions from Rainmatter, Gameskraft Technologies, Intersection Ventures, and Force Ventures. Existing investors Axilor Ventures and Arali Ventures also participated.
