About Spray Engineering
Spray Engineering is a company based in Sahibzada Ajit Singh Nagar (India) founded in 1992 by Vivek Verma. Spray Engineering has raised $8.63 million across 1 funding round from investors including Vistra, FidelisWorld and Minerva Ventures. The company has 540 employees as of January 31, 2025. Spray Engineering offers products and services including Low Temperature Evaporator, Direct Contact Heater, Spray Continuous Pan, Tubular Falling Film Evaporator, and Plate Type Falling Film Evaporator. Spray Engineering operates in a competitive market with competitors including Abengoa, Concord Enviro, USALCO, Praj and Oxbow, among others.
- Headquarter Sahibzada Ajit Singh Nagar, India
- Employees 540 as on 31 Jan, 2025
- Founders Vivek Verma
- Stage Minicorn
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Sectors
Environment
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Email
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Phone
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Website
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Social
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- Legal Name Spray Engineering Devices Limited
- Date of Incorporation 08 Nov, 2004
- Jurisdiction Chandigarh, Chandigarh, India
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Annual Revenue
$64.05 M (USD)39.14as on Mar 31, 2024
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Net Profit
$6.21 M (USD)59.16as on Mar 31, 2024
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EBITDA
$10.31 M (USD)59.59as on Mar 31, 2024
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Total Equity Funding
$8.63 M (USD)
in 1 rounds
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Latest Funding Round
$8.63 M (USD), Unspecified
May 16, 2024
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Investors
Vistra
& 22 more
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Employee Count
540
as on Jan 31, 2025
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Products & Services of Spray Engineering
Spray Engineering offers a comprehensive portfolio of products and services, including Low Temperature Evaporator, Direct Contact Heater, Spray Continuous Pan, Tubular Falling Film Evaporator, and Plate Type Falling Film Evaporator.
Efficient device for evaporation in sugar and wastewater processes
High-efficiency heater for juice and water heating applications
System for continuous sugar processing with high energy efficiency
Evaporator for sugar industry with improved heat transfer
Compact evaporator for various industrial applications
People of Spray Engineering
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Funding Insights of Spray Engineering
Spray Engineering has successfully raised a total of $8.63M through 1 strategic funding round. The most recent funding activity was a Unspecified round of $8.63 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Unspecified — $8.6M
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First Round
First Round
(16 May 2024)
- Investors Count 23
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2024 | Amount | Unspecified - Spray Engineering | Valuation | FidelisWorld |
Investors in Spray Engineering
Spray Engineering has secured backing from 23 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Vistra, FidelisWorld and Minerva Ventures.
| Investor | Description | Founded Year | Domain | Location |
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Growth equity based VC firm
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Founded Year | Domain | Location | |
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Risk management and advisory services are offered to environmental sectors.
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Founded Year | Domain | Location | |
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Wealth management, financial advisory, and fiduciary services are provided.
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Founded Year | Domain | Location |
Investments & Acquisitions by Spray Engineering
Financial Statements - Spray Engineering
Spray Engineering Comparisons
Competitors of Spray Engineering
Spray Engineering operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Abengoa, Concord Enviro, USALCO, Praj and Oxbow, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Energy, water, and waste management services are provided.
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| domain | founded_year | HQ Location |
Industrial wastewater treatment and waste management services are provided.
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| domain | founded_year | HQ Location |
Provider of alumina based chemical solutions for water treatment and industrial applications
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| domain | founded_year | HQ Location |
Bioethanol and wastewater treatment services are provided alongside biofuel research.
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| domain | founded_year | HQ Location |
Refinery and natural gas byproducts are recycled and treated.
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| domain | founded_year | HQ Location |
Provider of industrial water treatment services
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Frequently Asked Questions about Spray Engineering
Spray Engineering was founded in 1992 and raised its 1st funding round 32 years after it was founded.
Spray Engineering is headquartered in Sahibzada Ajit Singh Nagar, India. It is registered at Sahibzada Ajit Singh Nagar, Punjab, India.
Lalit Handa is the current CEO of Spray Engineering.
Spray Engineering is a funded company, having raised a total of $8.63M across 1 funding round to date. The company's 1st funding round was a Unspecified of $8.63M, raised on May 16, 2024.
As of Jan 31, 2025, the latest employee count at Spray Engineering is 540.
Annual revenue of Spray Engineering is $64.05M as on Mar 31, 2024.
Spray Engineering was founded in 1992 in Sahibzada Ajit Singh Nagar, India. Operations focus on the sugar and water sectors, where process equipment and automation systems are designed, manufactured, and installed for evaporation, crystallization, and treatment processes. Services encompass project engineering, equipment production, and after-sales support, with emphasis on zero liquid discharge technologies for wastewater management. Integrated solutions are delivered to enhance efficiency in these industries.
Spray Engineering's top competitors include Abengoa, Concord Enviro and Praj.
Spray Engineering offers Low Temperature Evaporator, Direct Contact Heater, Spray Continuous Pan, Tubular Falling Film Evaporator, and Plate Type Falling Film Evaporator.
Spray Engineering has 23 investors. Key investors include Vistra, FidelisWorld, Minerva Ventures, Renesis Financial Services, and PRABHAT FINANCIAL SERVICES LTD.
The valuation of Spray Engineering is $86.28M as of May 2024.