Cerahelix secures US$2mn in Series B funding

Cerahelix has closed a US$2 million Series B financing round led by PureTerra Ventures, an investment firm focused on disruptive water technologies with a positive social impact.

Maine Venture Fund, and Propel(x), a Silicon Valley-based Angel syndicate that focuses on deep tech startups, also participated in the round.

In 2016 Cerahelix launched its first commercial pico-filtration product, the PicoHelix™ ceramic membrane filter. The company has recently introduced non-biological wastewater for reuse system using its core pico-filtration technology, that is energy efficient, achieves high water recovery rates (>95%), and is robust enough to treat the most challenging wastewater streams.

The Series B funding will allow the company to significantly expand sales and marketing efforts, scale up manufacturing, develop new product features, and support current operations.

“Now that we have proven our technology, we are excited to have a strong partner such as PureTerra Ventures supporting our expansion goals. PureTerra brings more than just money to the table. They will be able to contribute to our future commercial success by introducing us to the fast-growing Asian water market through their well-established network,” said Susan MacKay, founder and CEO of Cerahelix. “The water industry is ready to embrace new technology; this is the right time for us to scale up our pico-filtration technology and expand our reach.”

Cerahelix announced last June in a filing with the US Securities and Exchange Commission that it intended to raise US$2 million. The company raised an initial tranche of US$500 000 at that time and has since raised another US$1.5 million to close out the round.

Cerahelix is a member of the 2018 Pipeline H2O class. The Pipeline H2O program is a Hamilton Mill-based initiative that is supported by a coalition of regional cities, utilities, universities and startup organizations throughout the Greater Cincinnati region. Pipeline H2O’s goal is to identify and accelerate companies working on water technologies that address the world’s water challenges.

The Hamilton Mill, based in Hamilton, Ohio, is a business incubator that provides support for young companies and entrepreneurs focused on clean energy and advanced manufacturing technologies.