Cerahelix secures $2 million in venture capital funding
Courtesy / Susan MacKay
Susan MacKay, founder and president of Cerahelix Inc. in Orono, reported securing $2 million in financing to expand the startup's sales and marketing efforts.
The Orono-based startup Cerahelix Inc., which produces an energy efficient water reuse technology, secured $2 million in financing to expand its sales and marketing efforts.
The Series B round of financing was led by Pure Terra Ventures, an investment firm that specializes in water technologies and is based in Shanghai, China. Secondary investors were Maine Venture Fund and Propel(x), a syndicate of Silicon Valley angel investors.
Cerahelix launched its first commercial picofiltration product in 2016, the PicoHelix, a ceramic membrane filter that achieves purity levels at least 10 times higher than commercially available ceramic filters, the company said in a news release.
In addition to helping sales and marketing efforts, the funding will help pay for scaled up manufacturing, product development and current operations.
“Now that we have proven our technology, we are excited to have a strong partner such as Pure Terra Ventures supporting our expansion goals. Pure Terra 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. “The water industry is ready to embrace new technology; this is the right time for us to scale up our picofiltration technology and expand our reach.”
Cerahelix was founded in 2011 to develop energy saving filtration products using DNA biotechnology combined with ceramic materials. The combination of high purity and durability in a single filter product makes Cerahelix’ PicoHelix filter applicable across multiple industries with wide-ranging applications including industrial water-reuse, organic solvent separations, and concentration of bio-based chemicals and pharmaceuticals.
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