Megaliter Varunaa Secures INR 15 Cr Funding to Boost Urban Water Circularity

Hyderabad-based Megaliter Varunaa, a subsidiary of Banka BioLoo Limited and mentored by Brigade REAP, has raised INR 15 crore in seed capital from long-term institutional investors to advance sustainable urban water management.

The funding aims to accelerate technology innovation, expand project development, and strengthen the company's impact across major Indian metros, including Mumbai and Bengaluru.

Founded in 2022 by Vishal Murarka and Namita Sanjay Banka, Megaliter Varunaa focuses on transforming wastewater utilities through its flagship "Megaliter Model", a zero-capital-expenditure, subscription-based solution that converts sewage treatment plants into productive, circular water utilities.

The company's integrated services manage financial, operational, and compliance needs, ensuring efficient recycling of wastewater for non-potable uses such as flushing, gardening, and cooling systems.

Vishal Murarka, Managing Director of Megaliter Varunaa, said, "Our ongoing mission is to convert underutilised assets into efficient, compliant, and resilient urban water utilities. We have treated over 3 billion liters of wastewater so far and aim to recycle more than 10 billion liters annually within the next year, directly enhancing water resilience for cities."

Abhay Garg, Chief Mentor at Brigade REAP, noted, "Megaliter Varunaa exemplifies the sustainable, impact-driven innovation India urgently needs. Their approach reimagines broken infrastructure through circularity and climate resilience, while addressing real-world urban challenges."

Looking ahead, the company is developing a "water credits" initiative to encourage industries and urban developers to recycle more water. This effort is expected to create new market incentives, attract investment, and help shape India's transition toward water-positive, sustainable urban infrastructure.