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SBI Ventures' Neev II Fund, a climate and sustainability-focused SME fund, has invested in RETAS Enviro Solutions Private Limited, a climate-tech company specializing in modular rainwater harvesting and disaster-resilient infrastructure. RETAS uses patented Rainmaxx tanks made from recycled polypropylene to capture and store rainwater, facilitating groundwater recharge. The investment supports RETAS's plans to expand its presence and product deployment in India, addressing water scarcity and urban flooding. RETAS has already captured over 75 billion litres of rainwater, aiming to significantly increase this capacity.
Neev II Fund, managed by SBI Ventures Limited, a State Bank of India group company, recently announced an investment in RETAS Enviro Solutions Private Limited. This action, involving a climate-tech company based in India, aims to support solutions for water sustainability and climate resilience by investing in RETAS's work on rainwater harvesting and related infrastructure. Advertisement
RETAS Enviro Solutions Private Limited, founded in 2017, specializes in modular rainwater harvesting and disaster-resilient infrastructure solutions that address urban flooding and water scarcity. Its patented Rainmaxx tanks, made from 100% recycled polypropylene, form modular box-structures used to build underground rainwater harvesting (RWH) systems. These tanks capture and store surface rainwater, facilitate controlled infiltration for groundwater recharge, and support on-site reuse of collected water. RETAS's solutions are used across roads, highways, manufacturing facilities, commercial spaces, and public infrastructure. To date, RETAS has captured and stored over 75 billion litres of rainwater.
India faces a significant water challenge. The country, home to 18% of the global population, possesses just 4% of the world's freshwater resources. According to the Central Water Commission, approximately 4,000 billion cubic meters of rainfall occur annually, but only about 8% is captured efficiently. This inefficiency is due to factors such as defective pipelines, limited or aging infrastructure, and a lack of proper RWH systems.
This investment by Neev II Fund complements India's growing focus on water sustainability and climate resilience. It will support Retas's growth plans, technology development, and expansion of its market reach. With enhanced capital access, the company aims to significantly expand its geographical presence and deploy new products, thereby increasing groundwater recharge capacity and improving on-site water availability.
Prem Prabhakar, MD & CEO, SBI Ventures Ltd, stated that Retas's innovative tanks provide an impactful solution to groundwater depletion and urban flooding. He added that their investment reflects a dedication to supporting technologies that conserve water and build resilient infrastructure.
Akshay Panth, CIO, Neev Funds, stated that their investment aligns with nurturing technology-led climate initiatives with environmental and social impact. He added that Rainmaxx tanks represent a breakthrough in modular, scalable water management solutions.
Neeraj Chauhan, Co-founder & CEO, RETAS Enviro Solutions, stated that their products empower communities and industries to manage water more sustainably, reduce dependence on overstressed groundwater, and build resilience against urban flooding.
SBI Ventures Ltd. is an alternative asset manager part of the State Bank of India Group. Neev II Fund, launched in June 2021, is one of its private equity funds, backed by various global and domestic investors.
Source- ANI
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