HaloSource raises US$2.2mn and signs 5-yr distribution deal in China

The Seattle-based company has recently closed a round of financing from a group of institutional investors including Invesco, Hargreave Hale and Woodford Investment Management along with Italian manufacturing partner Chematek.

HaloSource has also signed a five-year distribution agreement with Chinese e-commerce company JiuBan Industrial Co to market its new astrea™ line of water-filtration products including water bottles, water pitchers and replacement cartridges. HaloSource is expected to earn more than US$10 million in revenue with this distribution deal in China.

HaloSource CEO James Thompson says the new funding will be used exclusively to drive the company’s go-to-market strategy for its astrea line.

“We believe that we have a perfect alignment of technology-driven products and consumer need in a world where people are drinking more water for health reasons, but worry about the continued deterioration of water quality. The awareness of the issue grows every day,” said Thompson.

A water pitcher and water bottle marketed under the astrea brand will use patented technology that removes 99.9% of bacteria and viruses, as well as heavy metals.