Indian water company Luminous Water Technologies Pvt. announced that they were able to raise INR550 million or US$9.3 million through investments made by CLSA Capital Partners, the alternative asset management arm of CLSA (Credit Lyonnais Securities Asia). CLSA Capital Partners will invest in Luminous Water Technologies Pvt. through its unit Aria Investments Partners IV.
Luminous Water Technologies Pvt. received the funding in a single tranche. The company plans to spend US$20 billion in the next 5 years for irrigation, water treatment and recycling supplies. Luminous Water Technologies Pvt. operates in the world's second-most populous nation, India.
UNICEF commented that every year, diarrhea is spread via unclean water that kills a minimum of 400,000 children under the age of 5. Luminous Water Technologies Pvt.'s plans for improvement fall in line with UNICEF's program for clean water. Luminous Water Technologies Pvt. said that they plan to expand the company's reverse osmosis water purifier, Livpure.
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