Epuramat, a Luxembourg-based provider of chemicals-free water and wastewater treatments, has closed the first tranche of its series B round at €8.3m ($10m).
Bright Capital, the $350m corporate venturing unit of Russia-based conglomerate Ru-Com, led the B round that diluted existing shareholders, building materials producer Chaux de Contern and venture capital firm I2BF.
In March 2010, Pitt Pirrotte, a founding member of Property Partners, the largest real estate consultant in Luxembourg, and a member of the Cushman & Wakefield Alliance, made an investment of undisclosed size in Epuramat.
Epuramat plans to use the B round to launch an oil-water separation system, ExSep, in the first quarter of next year to complement its Box4Water wastewater treatment plant.
Sulkhan Davitadze, investment director at Bright Capital, said: “Epuramat reached a stable market position in compact, high-end wastewater treatment systems within only eighteen months. We see a large demand for the future oil-water separation system.”