Organica Water, Idinvest Smart City portfolio company, raises $21m
Posted on: 08/02/2018
Organica Water, a global provider of innovative solutions for the treatment and recycling of wastewater, secured in early 2018 a $21m Series D funding round with a second tranche to follow. This financing, the largest private equity round raised by the company to date, was led by CITIC Capital with substantial participation by existing investors Idinvest Partners via its Electranova Capital I Fund.
Founded in 1998, Organica has developed into a global solutions provider following a Series A fundraiser in late 2008. Working to bring its sustainable wastewater treatment solutions to cities and communities around the world, the company currently operates over 100 treatment facilities in the form of odorless and fully-enclosed greenhouses. This Food Chain Reactor solution preserves the surrounding land value and allows the wastewater treatment plant to be placed in the middle of the city, thereby greatly reducing infrastructure costs and enabling cost-efficient reuse of the treated effluent. "This is a critical milestone in Organica's journey to become the standard operating system for municipal wastewater treatment in the 21st century", said Ari Raivetz, Chief Executive Officer of Organica Water. "This investment provides the capital necessary to strengthen our balance sheet, better positioning us to deliver our unique wastewater solutions in larger and more complex projects in Asia".
Julien Milaret, Operating Partner of Idinvest, commented: "Organica's rapid adoption in China, India and South-East Asia is a strong signal that its small-footprint, attractive and odor-free wastewater treatment systems are ideally suited to the needs of emerging and emerged economies where new stations often need to be built within cities".