Cerahelix Receives Series B Funding
HAMILTON, Ohio, March 15, 2018 (Newswire.com) - Cerahelix, a member of the 2018 Pipeline H2O class, closed a $2 million Series B financing round led by PureTerra Ventures, an investment firm focused on disruptive water technologies with a positive social impact. Also participating in this round were Maine Venture Fund, and Propel(x), a Silicon Valley-based Angel syndicate that focuses on deep tech startups.
In 2016 Cerahelix launched its first commercial pico-filtration product, the PicoHelixTM, a ceramic membrane filter that achieves ten times higher purity than today’s best commercially available ceramic filters. Cerahelix has recently introduced non-biological wastewater for reuse system using its core pico-filtration technology, that is energy efficient, achieves high water recovery rates (>95%), and is robust enough to treat the most challenging wastewater streams.
The Series B funding will allow the company to significantly expand sales and marketing efforts, scale-up manufacturing, develop new product features, and to support current operations. “Now that we have proven our technology, we are excited to have a strong partner such as PureTerra Ventures supporting our expansion goals. PureTerra brings more than just money to the table. They will be able to contribute to our future commercial success by introducing us to the fast-growing Asian water market through their well-established network.” says Susan MacKay, Founder, and CEO of Cerahelix. “The water industry is ready to embrace new technology; this is the right time for us to scale up our pico-filtration technology and expand our reach.”
Cerahelix first revealed its intention to raise $2 million in a filing made last June with the U.S. Securities and Exchange Commission. The company raised an initial tranche of $500,000 at that time. It has since raised another $1.5 million to close out the round.
The award-winning Pipeline H2O program is a Hamilton Mill based initiative that is supported by a coalition of regional cities, utilities, universities, and startup organizations throughout the Greater Cincinnati region. Pipeline H2O’s goal is to identify and accelerate companies working on water technologies that address the world’s water challenges. Identified challenges include infrastructure improvements, water reuse, wastewater treatment, monitoring and consumer innovations.
Source: Hamilton Mill