Singapore Startup Hydroleap Bags $2.6 Million From Wavemaker
The Singapore-based wastewater treatment startup, Hydroleap, has raised $2.6 million in the latest funding round from Wavemaker Partners. The shareholders include Seeds capital, 500 startups’ South-east-Asia focused 500 Durians fund. The Hydroleap startup is focussing to make wastewater treatment cheap, environmental-friendly, and easy.
Wavemaker Partners is a venture capital firm founded in 2003 and it is located in Los Angeles and Singapore. The founders of this firm are Eric Manlunas, David Siemer, and B. Paul Santos. Previously, the firm has invested in Mobile and Enterprise technologies.
The officials say that this technology can be attained by replacing the expensive chemical treatment with smart electrical treatment. They have developed a cutting edge technology to work on high-speed solids, COD, and turbid wastewater.
Generally, the wastewater comes from construction fields, oil, potables, gas, mining, tannery, and semiconductor industries and it is well-designed to remove contaminants from wastewater. It is an automated system and it does need any chemicals to perform the operation. This technology has the right process to do the filtration.
At the construction sites, we will get a lot of wastewater for the mixing of cement and this technology provides end to end solutions. Nowadays it has been successfully commercialized.
Dr. Mohammad Sherafatmand, founder and CEO of wastewater treatment technology, says that every year they spend over $186 million. The startup provides a solution for wastewater treatment by replacing chemicals with electricity and is now enlarging to new verticals like mining, palm oil, and semiconductor industries. It is a pretreatment solution that makes use of electrocoagulation, involves running electricity through metal plates and removes solids and heavy metals.
The Hydroleap startup previously has sponsors from SGInnovate, Sparklabs Cultiv8, Sparklabs Global Ventures, and Entrepreneur. The Wavemaker partners recently invested in regtech startup silent eight and dental 3D printing firm structo. This regtech startup helps customers in banking and insurance. In Singapore, almost 50 people are employed globally.