The Neev II Fund, managed by SBI Ventures Limited, a subsidiary of the State Bank of India, has invested in RETAS Enviro Solutions Private Limited, a climate-tech company based in India. RETAS specializes in modular rainwater harvesting and disaster-resilient infrastructure solutions, aiming to address urban flooding and water scarcity. The company’s patented Rainmaxx tanks, made from 100% recycled polypropylene, capture and store surface rainwater, facilitating groundwater recharge and on-site reuse of collected water.
India faces a significant water challenge, with only 4% of the world’s freshwater resources available to support 18% of the global population. The country experiences approximately 4,000 billion cubic meters of rainfall annually, but only about 8% is captured efficiently due to defective pipelines, limited infrastructure, and a lack of proper rainwater harvesting systems. RETAS’s solutions have already captured and stored over 75 billion liters of rainwater, and this investment will support the company’s growth plans, technology development, and expansion of its market reach.
The investment by Neev II Fund aligns with India’s growing focus on water sustainability and climate resilience. Prem Prabhakar, MD & CEO of SBI Ventures Ltd, praised RETAS’s innovative tanks as a solution to groundwater depletion and urban flooding. Akshay Panth, CIO of Neev Funds, highlighted the investment’s alignment with nurturing technology-led climate initiatives with environmental and social impact. Neeraj Chauhan, Co-founder & CEO of RETAS Enviro Solutions, emphasized the company’s mission to empower communities and industries to manage water more sustainably and build resilience against urban flooding.
With enhanced capital access, RETAS aims to expand its geographical presence, deploy new products, and increase groundwater recharge capacity. The investment by Neev II Fund demonstrates the commitment of SBI Ventures Ltd to supporting technologies that conserve water and build resilient infrastructure. As a private equity fund backed by global and domestic investors, Neev II Fund is dedicated to nurturing technology-led climate initiatives with environmental and social impact. The partnership between RETAS and Neev II Fund is expected to contribute significantly to India’s water sustainability and climate resilience efforts.