Bangalore: Chennai based water engineering enterprise Morf India is all set to explore new dimensions of the market and is planning to raise venture capital worth $2 Million for business expansion. The company recently entered a marketing deal with Electrolux that licenses Morf India will sell the Kelvinator range of water purifiers and air purifiers in India and Sri Lanka. The license will be alive for five years and can be extended depending on the mutual understanding of the two companies.

Founded by MV. Praveen and R. Keannan in 1998, the company basically deals with water treatment plants, water purification filters and water treatment services. The prime products of Morf India are water purification and treatment units, waste water treatment equipments, water pumps, water level controllers and pressure boosting systems.

“The company offers water treatment and purification services to government organizations, public sector companies, Indian armed forces, central research institutes, hotels, restaurants, hospitals, universities, colleges, schools, IT parks, leather tanneries, marine processing companies and fertilizer manufacturer among others. The company has branches in Chennai, Bangalore and Hyderabad, India,” reports Deal Curry.

“The water purifier business has a huge potential in India. With the growing middle-class population in the country, we expect a growth in this segment. So far, we have around 100 licensing agreements for various brands in around 75 countries. The retail revenue that our licensing partners are getting from these products is around $3 billion,” said the Global Brand Licensing head of Electrolux, Matthew Young.

Morf India is looking forward to achieve a yearly turnover of $6 Million for 2012 and $100 Million by 2016. “Almost 65 per cent of our current business is in large projects, so far. With the licensing agreement, we are looking at the customer segment, which has a huge potential and is growing fast,” said managing director of Morf India, MV Praveen.