Wastewater treatment startup Hydroleap raises US$4.4 million in Series A funding
Sharanya Pillai
HYDROLEAP, a Singapore-based startup specialising in green wastewater technology, has raised US$4.4 million in a Series A round led by Japanese venture firm Real Tech Holdings.
The round was joined by Mitsubishi Electric, Wavemaker Partners, New Keynes Investments, the state government of Victoria in Australia, as well as Seeds Capital, the investment arm of Enterprise Singapore, Hydroleap announced on Tuesday (Jul 18).
Founded in 2016, it uses electrochemical techniques to treat industrial wastewater, which it said can reduce pollutants by up to 95 per cent. Its customers include national water agency PUB, real estate group CapitaLand, and Philippine food and beverage (F&B) company Universal Robina.
With the latest fundraise, Hydroleap plans to enter Australia, Japan and Indonesia over the next two years, serving companies in the data centre, F&B, manufacturing and mining industries. It also plans to break into a new vertical, the treatment of palm-oil effluent with advanced electro-oxidation technologies.
The founder and chief executive of the startup, Mohammad Sherafatmand, said: “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 ESG (environment, social and governance) goals and benefit the planet.”
Hydroleap will also tap the fresh funds to strengthen its research and development (R&D) and operations teams in Singapore and Australia.
Louis Murayama, managing director of Real Tech Holdings Singapore, said that Hydroleap’s “deep technological prowess enables it to tackle the challenges of escalating water scarcity”.
Danni Jarrett, chief executive of Invest Victoria – the state government’s investment attraction agency – said that Victoria is looking forward to the opening of Hydroleap’s manufacturing and R&D presence there.
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