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Water Flowing Out Pipe


Water technology innovations for an impending water crisis.

We are excited to announce our investment in Indra Water, a Mumbai based wastewater treatment company, providing technology solutions to MSME’s for treating industrial waste water and improving efficiency of water use.

Founded by two passionate IIT-Bombay entrepreneurs in 2018 - Amrit Om Nayak and Krunal Patel - Indra has made tremendous progress since our initial investment and association in 2021. The company specializes in electrocoagulation technology, an energy efficient way of treating wastewater, and is focused on providing an end-to-end solution for MSME’s with a lower energy footprint and overall capex cost. Through its integrated process of water treatment, Indra makes it significantly easier for corporates to be sustainable in their water usage, by enabling increased reuse of water and significant reduction in pollutants prior to discharge in public water bodies, effectively promoting the concept of Zero Liquid Discharge (ZLD). With prominent clientele, in India and overseas, including some leading multinationals and large India based corporates, Indra has garnered recognition on the global stage. In 2023, the company achieved distinction as one of the winners of the prestigious "Global Freshwater Challenge" hosted by World Economic Forum and HCL at Davos.

Peak Sustainability Ventures, through our flagship fund Peak Sustainability Venture Fund I, has participated in Indra Water’s $4 million Series A round, investing alongside Switzerland-based Emerald Ventures and India-based Mela Ventures, continuing our relationship with Indra since our Seed investment in 2021. 

Amrit Om Nayak, CEO and Co-Founder of Indra Water, stated "Indra has made significant progress in establishing decentralization as a viable mechanism to treat difficult wastewater streams effectively and enable efficient reuse of water. Our electrical treatment technology solves complex water challenges and improves existing water treatment assets through smart retrofits. I must thank Mr. Samir Shah and his team at Peak Sustainability Ventures for working closely with us over the years to amplify our positive impact. We are excited for them to stay on with us in this journey and help us accelerate India's transition to sustainable water management."

Samir Shah, Managing Partner of Peak Sustainability Ventures, commented "We have been involved with Amrit, Krunal and the Indra team since 2021, and have hopefully made a positive influence in their journey as a young company with a few pilots to now having a marquee client base and proven technology. Water is a sector we have been passionate about and actively involved in since 2007, with investments in leading water companies. Our investment in Indra further signifies our commitment to making a difference to global water challenges, by investing in scalable, innovative technologies with the potential for large-scale impact. We look forward to supporting the Indra team in their growth journey from here onwards."

At Peak, our thesis on water is centered on the premise that “water is too precious a resource to be used only once”. Indra Water’s solution embodies this grounding reality, and is one of the key reasons why we are backing this company.

Why we invested

Indra Water’s Impact On India’s Water Problem

Indra Water addresses India's pressing issue of contamination of water bodies due to wastewater discharge without treatment, a critical challenge within the climate sector that is often overlooked. With its highly scalable solution, the company has already achieved the following:

Indra's significant impact to date is only the tip of the iceberg. At scale, their solution has the potential to move the needle on effective wastewater management, promoting ZLD and reuse of water while preventing contamination of water bodies, consequentially impacting millions of communities across the world. Additionally, by promoting water reuse, companies like Indra Water are making water available for other end users. 

Peak's Active Involvement in the Water Sector

By 2030, over half of the world will face a shortage of water. The UN estimates that today, over 1.2 billion people do not have access to safe drinking water. Many people assume that these problems are relegated to low-income parts of society and emerging economies. Water scarcity is creeping up on us in a way that is both severe and extremely fast-paced. In order to change what is categorically a devastating outcome, the world needs to adopt the principles of reduce, reuse and recycle.








India is uniquely situated in a tough spot. We are facing a crisis of both water quality and quantity. Wastewater in India remains a significant and growing environmental concern. The treatment capacity lags far behind the amount of wastewater produced daily. This untreated wastewater often gets dumped directly into rivers, canals, and even drains, contaminating water sources and causing severe pollution. By 2030, India’s water demand will exceed supply by two times, highlighting the potential for severe water scarcity in the country. This shortage of water for industrial and residential use is expected to increase the demand for water treatment systems, such as Indra’s, in the long run.

We’re extremely excited to continue our journey with Indra. We believe Amrit, Krunal and the rest of the Indra team have the ability to transform the wastewater sector in India, and bring further attention to a space we have been looking at and investing in for over a decade. We look forward to supporting them in their mission. If you are interested in the wastewater management space, or the mission Indra Water is embarking on, and want to get involved, feel free to reach out to us at:

Innovative Solution For Wastewater Management

Indra Water's advanced wastewater treatment systems outperform traditional technologies with smaller, more efficient designs. The modular approach ensures quick on-site installation, and standardization for scalability. Technological advancements, such as improved surface-to-volume ratios and electrode lifespan, enhance efficiency and effectiveness. 

Regulatory Tailwinds Around ZLD

The Indian Government's Pollution Control Board has launched regulations on ZLD requiring corporates to treat their wastewater to a level where it can be re-used or is clean enough to be safely discharged as groundwater, without significant negative impact to the environment. These tailwinds position Indra well to meet growing wastewater treatment demand across multiple industries.

750m litres

Over 700 million litres of water has been saved since inception by using Indra's solution.


Over 500,000 individuals have been positively impacted by Indra Water's solution,


India is home to 18% of the world's population, and only 4% of global water reserves. (World Bank)


India ranks 120th out of 122 countries on the water quality index, with nearly 70% of its water being contaminated. (NITI Aayog)


Currently, India has the capacity to treat only 37% of its wastewater, or 2.7 billion liters per day. (NITI Ayog)

Partner's Note: At Peak, we take time to understand complex problems deeply. Water is a sector which has not received nearly as much attention as it should have. We physically cannot live without water. Every single industry in the world is predicated on the availability of water. Yet, when it comes to thinking about water, let alone investing in the space, many people draw an absolute blank. The availability of safe drinking water is taken as a given, primarily because, for the top 1% at least, it is a given. It's only when it starts to affect you directly (like many problems in this world), that one starts to take notice. The South Africa water crisis was just a 30 second movie trailer. That trailer will soon become the reality of every single country in the world, if we don't start treating water as an asset that needs to be carefully utilized, optimally managed, and re-used or saved wherever possible. Indra Water, VA Tech Wabag, and Drinkwell are just some of the ways we have supported this ecosystem. Keep an eye on this space. Once these challenges bubble up to the surface, we anticipate far more happening here.

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