Atlantium Technologies, an Israel-based water treatment company using ultraviolet (UV) as a disinfectant, has raised $9m from a consortium including Aster Capital, a multi-corporate-backed venture firm that provided a third of the investment round’s amount.
Aeris Capital, the family office of software provider SAP co-founder Klaus Tschira, and Benjamin Kahn, Altantium executive chairman, joined Aster, which is backed by France-based corporations Alstom, Solvay and Schneider Electric, in the round.
Atlantium said its largest shareholders were Aurum Ventures MKI, the office for Morris Kahn’s investments in Israel-based innovative start-ups, and Elron Electronic Industries, a technology holding company traded on the Tel-Aviv Stock Exchange and member of the IDB Holding group.
The round follows a decision by the US food regulator to allow UV to be used in pasturisation of water used in diaries but the money will help the company expand into the oil and gas industry.
Alexander Schlaepher, a partner at Aster and who will join Atlantium’s board, said: “Atlantium has made outstanding progress in addressing several market segments, ranging from food and beverage, aquaculture, pharma and municipal water. Large opportunities yet to be fully addressed reside in ballast water treatment [in ships], power generation and in chemical inactivation. With our three corporate sponsors holding activities both in the existing and in the new sectors to be addressed, we can strongly support Atlantium’s future.”
Harel Boren Investments advised Atlantium on the investment.