Hyderabad-based Megaliter Varunaa, a subsidiary of NSE-listed Banka BioLoo Limited and mentored by Brigade REAP, has raised Rs 15 million in seed capital from long-term institutional investors. The funding will accelerate project development, technology innovation, and business expansion in urban water management. 

Megaliter Varunaa transforms sewage treatment plants into circular water utilities through its flagship ‘Megaliter Model’—a zero-CapEx, subscription-based solution that maximises wastewater reuse for non-potable applications such as flushing, landscaping, and chiller systems. The company has treated over 3 billion liters of wastewater, with current capacity exceeding 2.5 billion liters annually, and plans to recycle more than 10 billion liters annually within the next 12 months. 

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. We are committed to converting underutilised assets into efficient, resilient urban water utilities.” 

Abhay Garg, Chief Mentor at Brigade REAP, added, “Megaliter Varunaa exemplifies impact-driven innovation, reimagining urban water infrastructure through circularity and climate resilience. Our mentorship helps them navigate complex ecosystems, unlock scalable partnerships, and position wastewater as a viable utility service.” 

Looking ahead, the company plans expansion into major metros such as Mumbai and Bengaluru, while exploring water credits to incentivise recycling and attract further investments, driving water-positive, sustainable urban infrastructure.