Industrial waste water treatment startup EcoWorth Tech raises USS$740K seed funding
Almost US$222,000 came via FundedHere while the remaining amount came from venture building platform Budding Innovations
EcoWorth Tech (EWT), a Singapore-based waste water treatment solutions startup, has raised S$1 million (US$740,000) in seed funding from Budding Innovations, a technology commercialisation and venture building firm, and equity crowdfunding platform FundedHere.
Of the total investment raised from this round, almost S$300,000 (US$222,000) came via FundedHere.
The cleantech startup will use the proceeds to expand its business and trial its products with leading multinational corporations on an industrial scale.
Dr. Bert Grobben, Founder and Chairman of EWT, said: “We see a significant opportunity to drive positive impact on the industrial water and waste treatment industry and, more importantly, society at large. Water shortage is a major global concern due to population growth and industrial usage and our solution addresses these needs and offers waste-to-worth opportunities.”
Founded in 2016, EWT transforms waste materials into reusable products while delivering social and environmental benefits. The startup commercialises a sustainable technology called ‘Carbon Fibre Aerogel’, developed at Nanyang Technological University, to treat industrial wastewater.
Launched in March 2015, FundedHere targets startups in Southeast Asia. In March 2016, it obtained its Capital Market Services License from the Monetary Authority of Singapore, permitting it to issue shares.
To date, FundedHere has raised over S$6 million through 16 campaigns.
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