Acuva Technologies Inc. has raised $2.6 million in Series A financing with a syndicate of Canadian angel investors.
A graduate of e@UBC Accelerator in March 2015, Acuva Technologies has previously received seed funding from e@UBC Seed Fund.
Vancouver based Acuva Technologies is a clean technology company focused on delivering point-of-use water purification systems using leading-edge, proprietary UltraViolet Light Emitting Diode (UV-LED) technology developed at the University of British Columbia. Acuva’s UV-LED water purification systems are designed to provide pathogen-free water in a compact, low-power, low-maintenance, cost-effective and environmentally friendly manner.
Acuva’s products, including the Eco and Arrow units, are capable of sterilizing up to 10 litres of water per minute and are ideal for providing mobile, off-grid, solar-powered and developing country point-of-use drinking water. Acuva Technologies is currently selling products for recreational boats, vehicles, and off-grid home use, with additional product lines and applications to be launched in 2018.
“Acuva’s water purification systems are quickly gaining traction in the North American recreational boat, RV and cottage markets as a viable alternative to environmentally-toxic plastic bottles, chlorine tablets and mercury lamp-based systems,” stated Acuva’s CEO, Manoj Singh. “This financing will enable the Company to ramp up our manufacturing capacity and launch new products into the appliance market with global partners in 2018.”
“I am very pleased to see Acuva grow from a Canadian university innovation into a successful commercial technology company solving a global clean water problem,” said Todd Farrell, Chairman of Acuva’s board and President of entrepreneurship@UBC Management Inc. “Acuva is a great example of the success to be had from partnering university innovators with external entrepreneurs to bridge the innovation gap.”
photo credit: Acuva Technologies