Aqua will use funding from IGNIA to expand its food-grade quality water grids and allow for the provision of service to significantly more customers.
The company said it will also use proceeds from the investment round for research and development purposes.
IGNIA co-founder and managing partner Alvaro Rodriguez Arregui said Aqua’s pre-installed water grid technology enables it to deliver an essential good to a large and growing market.
"Aqua’s business model is addressing low income individuals’ need for water at an affordable price and conveniently delivered," Arregui said.
IGNIA is an impact investing venture capital fund that invests in high growth businesses that serve the base of the pyramid in Mexico and other regions of Latin America.
Aqua provides purified water directly to homes through its pre-installed, independent and proprietary thermo-infused food-grade water grids installed in new housing developments.
