Germany-based industrial conglomerate BASF has agreed to buy local water filtration membrane provider Inge Watertechnologies for an undisclosed amount.
Inge’s investors included Siemens Venture Capital, the corporate venturing unit of local conglomerate Siemens, and venture capital firms BayTech Venture Capital, Emerald Technology Ventures, Entrepreneurs Fund, Stone Fund and Taprogge.
Taprogge and RWE Dynamics, part of local utility RWE, had provided an undisclosed amount as part of Inge’s series A round before Siemens Venture Capital and Emerald invested in 2004, subsequently followed by Entrepreneurs Fund and Stone Fund.