Dell Foundation Picks 5% In Waterlife International
Wednesday, March 30, 2011
Michael & Susan Dell Foundation picked up approximately 5 percent by way of fully and compulsorily convertible debentures of the Hyderabad-based Waterlife India Pvt Ltd, a water purification company. The actual amount pumped into the firm is not known.
Waterlife is engaged in building, operating and maintaining community water systems. In 2009, Aavishkaar, a micro equity fund, had invested in Waterlife India Pvt Ltd. for a significant minority stake.
Waterlife has been founded by Sudesh Menon, Mohan Ranbaore and Indranil Das with the objective of providing potable water to rural communities. The company installs and operates mini water purification plants (30,000-1,20,000 litres per day capacity) in rural areas that treat water for bacterial and chemical contaminations.