Boon, an IoT-enabled global water-tech startup, said in a statement that it is expanding its horizons in ASEAN countries, including Thailand, Indonesia, and the Philippines, after establishing its roots in Africa and the Middle East regions.
This expansion strategy aims to preserve the sensitive ecosystem of the ASEAN region by eliminating plastic waste and reducing the carbon footprint across the region, according to the statement issued by the company.
Boon, headquartered in Singapore, claims that it has become the largest supplier of glass water bottles in the world. As a part of its expansion plans in the ASEAN region, the startup is eyeing an investment of up to USD 10 million, with an estimated revenue expectation of around USD 50 million in the next few years.
Vibha Tripathi, MD of Boon, said, "The expansion plans in the ASEAN region are another testament to our forward-looking response to plastic pollution. There has been an urgent need for all stakeholders to take significant action against climate change. We believe the expansion will contribute greatly towards eliminating plastic in the region for a sustainable future."
Boon (formerly known as Swajal) has recently partnered with Srinagar Smart City to monitor the water quality of Dal Lake and Travel Food Services (TFS) to set up an advanced AI-based intelligent hydration system at airport lounges and luxury hotels such as Fairmont Jaipur, Suryagarh, Andaz, etc. to curb plastic waste from water bottles.