Singapore-based wastewater treatment startup Hydroleap has secured S$2.6 million (US$1.9 million) in a funding round led by Wavemaker Partners.
Other investors including Enterprise Singapore’s Seeds Capital and 500 Durians (500 Startups’ Southeast Asia fund) also participated in the round.
Founded by Mohammad Sherafatmand, Hydroleap provides a cost-effective and environmentally friendly solution for wastewater treatment, which is traditionally done by adding chemicals to the water. Its pre-treatment solution makes use of electrocoagulation, which involves running electricity through metal plates and creating in-situ coagulants to effectively remove suspended solids and heavy metals.
Hydroleap, which claims its solutions are overall three times cheaper and two times smaller than incumbent technologies, currently provides its end-to-end solutions at construction sites. It has also established relationships with ceramic membrane companies to commercialize an integrated electrical and filtration system.
According to a statement, the startup will use the new funds to continue expanding to new verticals in mining, palm oil, and semiconductor industries.
“Hydroleap’s beachhead market is in construction and enjoys a strong pipeline of projects. We are proud to journey with Hydroleap to deploy 3,000 systems in Singapore alone,” said Wavemaker Partners managing partner Paul Santos.
Hydroleap has passed early-stage validation via prior funding rounds that included participation from SGInnovate, Sparklabs Cultiv8, Sparklabs Global Ventures, and Entrepreneur First. The startup’s technology was also tested with various wastewater industries such as construction, tannery, food and beverage, and highly contaminated wastewater.
“[Mohammad] and his team continues to build opportunities in a range of sectors and we look forward to continuing to work with them as they shift into the mining industry in Australia,” said Sparklabs Cultiv8 managing partner Jonathon Quigley.
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