US-based water treatment technology developer Water Planet raised an undisclosed amount of series B funding yesterday from investors including Aliad, the corporate venturing arm of industrial gases producer Air Liquide.
The round also included private equity firm Bluestem Capital and UCLA Venture Fund, a community of alumni and ‘friends’ of University of California, Los Angeles, which support companies with links to the institution.
Although Water Planet did not reveal the amount received in the round, a regulatory filing shows the company had raised almost $8.4m as of June this year. Earlier filings indicate it had previously raised approximately $2m in debt and equity.
Founded in 2011, Water Planet aims to produce water treatment membrane products for use in desalination and water recycling. The series B cash will support the commercialisation of the company’s PolyCera membrane technology.
Subir Bhattacharjee, Water Planet’s chief technology officer, said: “We value Air Liquide’s confidence in our technologies and the future this represents not only for our company, but also for the water treatment industry.
“We are already engaged with them to develop unique offerings for water reuse and look forward to bringing other services and products to market together.”
– Photo courtesy of Water Planet, Inc.