Bore Charger founded by Rahul Bakre and Vinita Fadnis restores water to a dry borewell by helping harvesting rainwater from the topmost, seasonally replenishable unconfined aquifers.
Bore Charger makes the borewell highly sustainable by recharging the deeper confined aquifers.
It’s world’s first technology to recharge dried borewells and also has a global patent of this technology. Some similar technology is used for oil, but it is very expensive.
Charging borewells, which have a 90–95 percent success rate, costs 25–40,000 rupees. In the last 2-3 years, this startup has cured about 4000 borewells.
Government has used this technology for smart cities under Amrit 2.0. Under this, 400 borewells have been recharged.
The company’s device is priced at Rs 7-8 lakh. Revenue: FY 21-22= Rs 1.02 Cr. FY 22-23: Rs 2.78 Cr. FY 23-24: Rs 3.22 Cr (Profit of 8%). FY 24-25 (Expected): Rs 5 Cr & 15% profit.
The Founders sought a funding of Rs 75 lakh in lieu of 1.5 percent equity. Kunal offered an offer of Rs 75 lakh in lieu of 10 percent equity.
Founders offered 2.5 percent in the counter, but the deal could not be done and the founders had to return empty -handed.