Singapore’s Hydroleap, a green wastewater technology company, has raised $4.4 million in its Series A funding round. The funding was led by Real Tech Holdings, a prominent Japanese Venture Capital firm, with the participation of corporate investors, including Mitsubishi Electric, Seeds Capital, Wavemaker Partners, New Keynes Investments, and the State Government of Victoria in Australia.
Hydroleap, driven by its vision of promoting water sustainability worldwide, will lead its next growth phase in the Asia Pacific (APAC) region. With the newly raised funds, the Singapore-based green wastewater technology company plans to expand its presence into new geographies such as Australia, Japan, and Indonesia within the next two years.
With this, the company wants to extend its expertise and solutions to various industries, including data centers, food and beverage (F&B) manufacturing, and mining, helping them significantly reduce their water and carbon footprints through efficient and eco-friendly wastewater treatment.
Hydroleap was founded in 2016 by Mohammad Sherafatmand, a Ph.D. graduate in Environmental Engineering from the National University of Singapore. The company’s automated modular system leverages electrochemical principles without any chemicals. The technology activates the aqueous solution by applying low-powered electricity, creating coagulant reagents that attract contaminants.
Hydroleap is determined to take its electrochemical technologies from laboratory settings to practical applications, and one of its major initiatives is venturing into a new vertical – palm oil effluent treatment.
The Singapore-based startup’s electrochemical techniques have proven highly effective in treating industrial wastewater, enabling a remarkable reduction of up to 95% in pollutants. Furthermore, Hydroleap’s solutions have demonstrated their efficacy in cooling tower water recycling, achieving a substantial 70% reduction in water discharges.
“The demand for efficient and sustainable industrial wastewater treatment is growing as countries become more water stressed. Our intention is to develop global best practices for the most eco-friendly, efficient and cost-effective water treatment technologies and infrastructure that helps companies meet their ESG goals and benefits the planet,” said CEO Sherafatmand.
With the support of Victoria State’s investment attraction agency, Hydroleap will expand its wastewater management and recycling expertise to resource-intensive data centers and mining industries in Australia.
Additionally, the company seeks to equip manufacturing industries, such as the paper industry in Japan and the palm oil industry in Indonesia, with its array of innovative wastewater treatment technologies.
Back in 2019, Hydroleap secured a funding round of US$1.9 million, with Wavemaker Partners leading the investment. Seeds Capital, 500 Durians, and several undisclosed investors also participated in the funding, reinforcing the market’s confidence in the company’s approach to wastewater treatment.
With its recent Series A funding of US$4.4 million led by Real Tech Holdings and the backing of a diverse group of investors, Hydroleap is expected to accelerate its expansion plans on water sustainability and environmental conservation.