Los Angeles, CA /PRNewswire/ - PolyCera® Membranes, which develops and markets next-generation membrane technology for industrial wastewater treatment and process separation, has completed a $9 million Series A funding round that will enable the company to make immediate investments to build out its global manufacturing, R&D and sales capabilities.
"Completion of the Series A funding round is an important step forward for PolyCera, creating a solid foundation on which to continue our dynamic growth. In addition to making important strategic investments in top-tier industry talent aimed at accelerating sales, we will use the funds to invest in manufacturing capabilities near our headquarters in Southern California and fast-track development and commercialization of our nanofiltration and reverse osmosis products. We are committed to bring to customers around the world the most advanced membrane filtration products that deliver the highest quality of treatment with unrivaled reliability at the lowest lifetime cost," said Simon Marshall, Chief Executive Officer of PolyCera Membranes.
Engineered with Nobel Prize winning chemistry and made of a revolutionary organic metal material, PolyCera membranes gained immediate market traction upon their launch in November 2016. The company now has more than 80 installations on three continents up and running as well as 27 live trials on six continents in various stages of completion.
"Our team possesses an extraordinary passion to have a huge impact on our world through the creation of companies that will improve our lives and that of the generations that will follow. We aim to do this by funding the very best scientists, engineers and entrepreneurs and helping them transform their knowledge, ideas and discoveries into viable businesses. We expect these companies to have a huge impact on the world and create significant returns for their shareholders. PolyCera Membranes meets all these criteria," said Jim Demetriades, Founder and Managing Partner of Kairos Ventures.
Kairos Ventures invests in, supports and nourishes the world's leading scientific discoveries and commercializes them into successful businesses as quickly as possible, backing inventors who will change the world. Institutional investor Bluestem Capital brings extensive success and experience working with all stages of companies in energy, water, healthcare and other tech industries. The Wolfen Group is a Los Angeles based private equity investor with 20+ years of experience investing in early stage technology businesses including being founding investors in Broadcom.
"I am very pleased and grateful to have Kairos Ventures as a major investor in PolyCera Membranes along with Bluestem, the Wolfens and our historical investors through Water Planet," said Eric Hoek, Founder and Chairman of PolyCera Membranes.
About PolyCera Membranes
A Water Planet company, PolyCera Membranes develops and markets next-generation membrane technology for industrial wastewater treatment and process separation, setting new standards in performance and total cost of ownership. Our PolyCera membrane filtration products deliver the highest quality of treatment with unrivaled reliability at the lowest lifetime cost. With more than 80 completed installations on three continents and an additional 27 trials running on six continents, we have established a growing global presence in just 18 months since launch of our award-winning PolyCera ultrafiltration products. Backed by an IP portfolio of 61 patents, we continue to expand the range of applications for our award-winning PolyCera membrane technology to include nano-filtration and chlorine resistant reverse osmosis membranes.
SOURCE: PolyCera MembranesCopyright 2018 PR Newswire. All Rights Reserved