Funding Alert

Climate Tech Startup Aurassure Secures INR 4 Crore in Seed Funding Led by Unicorn India Ventures

• ByStartupStory     |    September 20, 2023

Aurassure, a climate tech startup based in Bhubaneswar, has successfully raised INR 4 Crore in a seed funding round, with Unicorn India Ventures leading the investment. This achievement marks a significant milestone for the startup and will support its growth initiatives.

The newly acquired funds will be directed towards enhancing product capabilities, including the establishment of a data analytics team, obtaining international product certifications to facilitate scaling, and expanding the sales team to reach multiple cities.

Aurassure, armed with powerful IoT-enabled intelligent systems, specializes in real-time data collection and analysis to provide accurate forecasts and updates on disasters and rapidly changing weather patterns such as floods, air pollution, and rainfall, among other climate-related data. The startup’s mission is to empower governments and citizens to make informed decisions for a healthier and safer lifestyle.

The company has already secured prestigious clients, including Tata Realty, L&T Realty, P&G, Honeywell, IIT Bombay, and Google. With a 40% quarter-over-quarter growth rate, Aurassure has expanded its operations to cities such as Bhubaneswar, Chennai, Aurangabad, Rajkot, and Delhi.

Aurassure is committed to addressing environmental challenges, including pollution, global warming, and climate change, by bringing people together and providing essential hyperlocal data for informed decision-making.

Akanksha Priyadarshini, Co-founder & CEO, of Aurassure, says, “Empowering communities with hyperlocal data to build resilience against climate change is not just a mission, it’s a responsibility we wholeheartedly embrace. Together, we’re not just innovating but driving a positive change for a healthier, more resilient, and sustainable future, one city at a time. Our vision goes beyond data collection. We aim to be instrumental in policy-level decision-making by providing vital insights to form responsible environmental practices. We also plan to offer robust decision support systems and environmental consultancy services, guiding governments and organizations in making sustainable choices.”

Aurassure is dedicated to improving the liveability of cities globally by enabling responsible climate actions through real-time data and AI. The company offers sensor-based devices and AI-powered analytics platforms for governments, corporations, researchers, and communities to make informed decisions and take meaningful action to protect the environment. 

The startup has recently introduced Aurassure Care, a smart air quality monitoring device for indoor environments that can be integrated with Building Management Systems (BMS) and air purification solutions, enhancing the green ratings of commercial spaces. The company also offers products like Aurassure Trust for flood monitoring and Aurassure Infra for outdoor air quality, weather, and greenhouse gas monitoring.

Commenting on the investment, Bikram Mahajan, Partner, Unicorn India Ventures, says, “Although the global environment monitoring market is valued at over $12 billion, of the 1.4 million devices needed just for air quality monitoring, only 3% are operational, underscoring the urgent need for action and the vast market potential. In our quest for a scalable climate-tech venture, Aurassure stood out. In a world choked by data silos and the escalating threat of climate change and air pollution, the Aurassure platform leverages AI, machine learning, and data points from multiple devices to generate accurate insights and actionable intel. Driven by a powerhouse team, Aurassure resonated with our ethos of championing disruptors, and we’re thrilled to partner with them as they redefine environmental monitoring to pave the way for a cleaner future.”

Aurassure’s remarkable revenue growth over the past year underscores the increasing demand for smart environmental tech products and services, positioning the company for potential 6x earnings growth by 2024. Over the next 12 to 18 months, Aurassure plans to deploy over 1000 sensor devices in eight cities across India. The company also aims to expand into Southeast Asia and Africa, followed by European and U.S. markets. Its growth strategy includes geographical expansion, revenue diversification, team strengthening, and certifications for international scaling.

 

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