BONPHUL AIR PRODUCTS RAISES 2 CRORE FUNDING FROM ANGEL INVESTORS
- Bonphul Air Products are the makers of India’s first—and the world’s second—Oxygen Optimizers.
- RX Infotech and Karmesh Global Technologies have come on board as Angel Investors.
- The funds are to be utilised to strengthen R&D, and expand the sales & marketing network across the country.
New Delhi, 23 May 2018: Bonphul Air Products, the developer of OxyMax, India’s first—and the world’s second—oxygen optimizer, has raised Rs 2 Crore in an Angel Investment Round from Rx Infotech and Karmesh Global Technologies. This ten month old start up had, in October last, received an undisclosed amount of seed capital from Faridabad-based investor Satish Bhatia.
OxyMax is a path-breaking product that operates in a “split” mode, with an outdoor unit and an indoor unit. The outdoor unit harvests oxygen from the outside air and pumps it indoor, where it is dispensed by the indoor unit. This increases the oxygen level in the indoor air from its current level to 21%, creating an environment of freshness and vigour. Good quality air—what is called Mountain Fresh—is a mixture of about 21% oxygen, 78% nitrogen and 1% other gases. However, in most cities, the oxygen level in air is far lower; outdoors it would be around 18%, indoor even less. This leads to a whole host of problems: some immediate and some long-term.
Commenting on this new development, Narendra Bisht, COO and Co-Founder said, “The company will use the invested funds for expansion of its product portfolio, and widening its sales & marketing network. The company also plans to infuse funds into technology development, and roll out highly customized solutions for users in different verticals like hospitals, schools, shopping malls etc.”
Expressing their trust in Bonphul, Atul Gupta, Director, Rx Infotech said, “Bonphul has the right combination of technology expertise, business acumen and domain knowledge to win the customers need for good quality air. We are delighted to collaborate with Bonphul and look forward to the exciting next phase of growth.”
“The narrative on air pollution has, sadly, remained limited to particulate matter PM 2.5. I really admire the Bonphul team’s desire to take a comprehensive view of indoor air quality and tackle the most important problem of all: the falling levels of oxygen in our cities and in our homes.” Further added Mr. Saurabh Rastogi, Director, Karmesh Global Technologies
