ECOSTP Technologies, a startup that develops sanitation solutions through bioengineering, on Wednesday said it has secured an investment of $250,000 (Rs 19 million) from Terwilliger Centre for Innovation in Shelter.
A unit of housing non-profit Habitat for Humanity, Terwilliger Centre for Innovation in Shelter facilitates more efficient and inclusive housing market systems, making affordable and improved housing possible for low-income families.
According to a statement by the startup, the investment will be used by ECOSTP to bring its self-sustainable sewage treatment technology to thousands of families in low-income areas across India.
“As a startup, the partnership with the Terwilliger Centre for Innovation in Shelter is crucial for us in the current environment. It plays a major role in allowing us to develop our business and bring a safe, sustainable, and affordable water treatment product to low-income families, and further our mission to reclaim every drop of wastewater naturally,” said Tharun Kumar, Co-founder, ECOSTP.
Founded in 2017 by Dr. E Muralidharan, Simar Kohli, Tharun Kumar, and Praseed KK, ECOSTP uses biomimicry to develop a sewage treatment system that uses anaerobic bacteria to purify water through underground chambers.
According to the startup, this results in an affordable, self-sustainable system that can treat millions of litres of sewage water per day without relying on power, chemicals, or human intervention, resulting in a savings of up to 90 percent on operational expenses.
Commenting on the investment, Jyoti Patel, Global Director of Impact Investments for the Terwilliger Centre, says,
“ECOSTP’s low-cost and low-maintenance sanitation technology adapts well to the COVID-19 reality, where families need healthy homes to shelter in place. We are thrilled to have a partner with enormous potential to bring affordable solutions that can create healthier and sanitary households across the country.”
This is Terwilliger Centre’s second investment in an Indian startup. It had earlier invested in ReMaterials — a modular roofing startup — in 2018.
Edited by Suman Singh
India’s most prolific entrepreneurship conference TechSparks is back! With it comes an opportunity for early-stage startups to scale and succeed. Apply for Tech30 and get a chance to get funding of up to Rs 50 lakh and pitch to top investors live online.
Link : https://yourstory.com/2020/09/funding-startup-ecostp-investment-habitat-humanity-sewage-treatment
Author :- Apurva P ( )
September 30, 2020 at 05:37PM
YourStory