Zerodha’s Nithin Kamath with Greenvironment co-founder Varun Sridharan
| Photo Credit:
Varun Sridharan
Chennai-based Greenvironment Innovation, a start-up focused on solving water and environmental problems using IoT and sensor technology, has raised $1 million in funding from Rainmatter, an impact VC fund floated by Zerodha.
Based out of the IIT-Madras Research Park, Greenvironment installs its smart IoT sensor systems for sewage treatment plants, water treatment plants, rainwater harvesting, and other effluent treatment units. These are then monitored through a Real-Time Monitoring platform to collect data from sensors on water quality, flow, and energy use. Greenvironment processes this data to provide insights, early warnings, and solutions when something goes wrong.
“We currently operate in over 300 buildings across India, including offices, hospitals, apartment communities, malls, hotels, and factories. We are seeing robust increase in deployments and revenue with 60 per cent revenue coming from subscription model and other 40 per cent on hardware / sensors. We are also operationally profitable,” Varun Sridharan, co-founder, Greenvironment, said. The start-up has an Annual Recurring Revenue of around ₹6 crore.
Sridharan said they intend to accelerate international expansion in the Middle East markets, where they have started pilots. The start-up is also focused on expanding automation capabilities and developing advanced AI models, image recognition tools, and digital twin technology, he added.
Left to right- Varun Sridharan, Jafeel, Sam Thomas, Sridharan Nair, Mohanraj Makkuni
The company is led by four founders: Varun Sridharan, who leads overall strategy and innovation; Sridharan Nair, who manages internal systems and team development; Mohanraj Makkuni, who supports business growth and funding; and Sam Thomas, who handles finance and planning. Jafeel is an independent director of Greenvironment who drives governance practices on the board.
Abhinav Singh Negi, Investments team at Rainmatter by Zerodha, said that with the recent policy push around ESG reporting, there is now an ecosystem where one can build a sustainable water business. “More than being just a technology provider, Greenvironment is promoting a shift in mindset—treating water not just as a resource, but as a system that must be managed responsibly through data and intelligence,” he said. We have invested around 5-6 start-ups in the water space in the last six months, he added.
Published on May 30, 2025
