California and Mumbai-based startup Praan has raised $1.56 million in funding from Social Impact Capital. Other participants in the round were Better Capital, Paradigm Shift Capital, Avaana Capital and Quality of Life Investments Texas. Other angel investors like Dr. Maulik Majmudar, Surya Panditi, Dr Ritesh Malik, Akshay Singhal, Mehul Shah, Ashwin Kandoi, Dhruv Chitgopekar, Arjun Vaidya, Supriya Paul and others participated in the round.
Praan was founded by Angad Daryani in 2017 to help people breathe cleaner air in urban locations. For this, they take the help of AI-powered filter-less air purification systems. World over an estimated 70 million deaths is caused by breathing polluted air. Praan looks forward to position itself as the answer to clean air. The deep tech start-up with their patent-pending technology wants to filter out carbon dioxide from the air. The company has performed CO2 extraction under lab settings.
With the funds, they plan to build and expand their Indian team and to gain large-scale pilots through B2B deployments. Praan plans to make its technology deliver clean air at Re 1 per person per day. The venture is backed by Microsoft for Startups, ANSYS Startup Program, and the Autodesk Foundation. They were participants in Georgia Tech’s Create-X Startup Accelerator Program.