Testament of the growth in the Indian maritime infrastructure, Acquafront Infrastructure Private Limited (AIPL), a startup incubated at the Indian Institute of Technology Kanpur (IIT Kanpur), has successfully raised $0.5 million in funding during the fiscal year 2023-24. The scale-up investment will provide crucial momentum for the team to increase marketing and sales within India.

The infusion of funds will drive AIPL’s expansion in completing its factory for manufacturing quality barges, pontoons, and jetties and provide scalability in 2024. It will help new product development, expand the sales team, and establish a strong team for innovation. The investment will also enhance technological capabilities, ensuring AIPL remains at the industry forefront. Moreover, it aims to secure significant contracts in the B2G and B2B sectors, solidifying its position in maritime infrastructure and increasing its market presence.

The funding comprises a mix of equity and debt. Notably, Mr. Anurag Singh, an alumnus of IIT Kanpur, has played a pivotal role in AIPL’s journey by investing in the company. SIDBI and TIFAC have also participated in this investment round.

Established in 2018 by a group of visionary engineers who graduated from the Indian Institute of Technology (BHU). AIPL has emerged as a beacon of innovation and quality for maritime and inland waterways infrastructure, leveraging patented, IP-driven technologies and adopting a forward-thinking approach.

Central to AIPL’s operations is its commitment to undertaking turnkey projects for pump pontoons, floating walkways/jetties, floating hotels/restaurants, floating solar, and floating stations installations tailored to #mining, #oil_and_gas, #water_supply, #construction, and #tourism_industries requirements through its innovative product line, including Steel-integrated Floating Jetties (SIFJ) modules, Modular Barges, and GFRC Floating Beams.

The successful funding round marks a significant milestone in AIPL’s journey, propelling the company towards greater heights of innovation and impact within the maritime sector.

The founders. Mr. Ankit Patel and Mr. Achin Agrawal also shared their pride in the company’s achievement, highlighting the reduction of carbon emissions by 586.69 metric tonnes to date through the projects delivered by AIPL. The team further aims to generate global impact through the supply of their modular and sustainable floats in international projects.

SIDBI #TIFAC #IITKanpur #SIIC #EIL #MeitY #NRDC