Hydroleap, an industrial wastewater treatment technology company headquartered in Singapore, announced today that it has raised US$4.4 million ($5.81 million) in Series A funding.
The round was led by Japanese Venture Capital firm Real Tech Holdings, and joined by a mix of new and existing corporate investors such as Seeds Capital — an investment arm of Enterprise Singapore, Mitsubishi Electric, Wavemaker Partners, New Keynes Investments and the State Government of Victoria in Australia.
In a press release dated July 18, Hydroleap says it aims to use this round of funds to work with companies across data centres, food and beverage (F&B) manufacturing, and mining industries to lower their water and carbon footprint by treating wastewater in an “efficient and environmentally friendly way”.
At present, some of Hydroleap’s customers include CapitaLand and the Public Utilities Board, Singapore’s Water Agency, but it plans to enter new Asia-Pacific geographies like Australia, Japan and Indonesia.
Hydroleap, which was founded in 2016, says its current electrochemical techniques can reduce up to 95% pollutants present in industrial wastewater and lessen the water discharges by 70% in the cooling towers. It aims to develop a new vertical for palm oil effluent treatment, which it says currently poses one of the most challenging problems to the industry due to its high degree of oil and organic content.
See also: Hydroleap aims to treat industrial wastewater using electricity
Founder and chief executive officer of Hydroleap, Mohammad (Moh) Sherafatmand, says: “Our intention is to develop global best practices for the most eco-friendly, efficient and cost-effective water treatment technologies and infrastructure, that help companies meet their environmental, social and governance goals and benefit the planet. Our experience of working with multiple multinationals for F&B wastewater treatment and cooling tower water recycling in the past few years, has strengthened us to take a bigger step now.”
