Hyderabad-based Megaliter Varunaa, a subsidiary of NSE-listed Banka BioLoo Limited and mentored by Brigade REAP, has secured Rs 15 crore in seed capital from long-term institutional investors. The fresh funding will accelerate project development, business expansion, and technology innovation in sustainable urban water management.
Transforming Wastewater into a Circular Resource
Megaliter Varunaa is pioneering a new approach to urban water reuse through its ‘Megaliter Model’—a zero-CapEx, subscription-based solution that converts sewage treatment plants (STPs) into productive, circular water utilities. By offering end-to-end service contracts that integrate financial, operational, and compliance support, the company ensures reliable and sustainable wastewater recycling for non-potable applications such as flushing, gardening, and cooling systems.
This model reduces cities’ dependence on dwindling freshwater sources while unlocking significant environmental and economic value from wastewater.
Driving Scale and Resilience
Vishal Murarka, Managing Director, Megaliter Varunaa, said, “This seed capital marks a pivotal milestone in our journey to meet India's pressing need for sustainable water solutions. Our ongoing mission is to convert underutilised assets into efficient, compliant, and resilient urban water utilities.
“To date, we have treated over 3 billion litres of wastewater, and our current capacity exceeds 2.5 billion litres annually. In the next 12 months, we aim to recycle over 10 billion litres annually, directly enhancing water resilience for cities and reducing freshwater dependency.”
A Circular Vision for Urban India
Abhay Garg, Chief Mentor at Brigade REAP, added, “Megaliter Varunaa exemplifies the kind of sustainable, impact-driven innovation India urgently needs. Their model doesn’t just fix broken infrastructure—it reimagines it through the lens of circularity, reliability, and climate resilience.
“At Brigade REAP, our support extends beyond mentorship. We help refine their go-to-market strategy, align innovation with real-world urban challenges, and unlock scalable partnerships to position wastewater as a viable utility service.”
Shaping the Future of Water-Positive Cities
Megaliter Varunaa is also advancing the concept of water credits, designed to incentivise industries and urban developers to recycle more water. This market-based mechanism could attract new investments in sustainable infrastructure, rewarding water-positive actions and reinforcing the shift toward circular urban economies.
With its new funding, the company plans to expand into major metros including Mumbai and Bengaluru, marking a new chapter in India’s journey toward sustainable, water-secure cities. |
