Acuva Technologies Inc. has closed a $5.4 million Series B round of financing with a syndicate of existing and new investors.
Burnaby, BC based Acuva Technologies has previously raised seed and Series A funding from entrepreneurship@UBC Ventures, BDC Capital, Interwest Enterprises, private investors. The company also received funding from Genome BC and federal government Western Economic Diversification Canada’s Western Innovation (WINN) Initiative.
Founded by CEO Manoj Singh, CTO and UBC Preofeoss of Chemical and Biological Engineering Fariborz Taghipour, Acuva is a cleantech 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 intends to use new funding to meet the rapidly growing demand for Acuva’s proprietary products in global markets and to fund the growth of its teams both in Canada and abroad.
photo credit: Acuva Technologies
Acuva Technologies Inc. closes, an oversubscribed $5.4 million growth financing to meet global demand for its proprietary UV-LED drinking water systems
BURNABY, BC, Feb. 6, 2020 /CNW/ – Acuva Technologies Inc. (“Acuva” or “the Company”) today announced the closing of a $5.4M growth financing with a syndicate of existing and new investors to deliver the Company’s innovative drinking water purification systems to global consumers.
“Securing this round of financing is further validation of Acuva’s vision to enable clean drinking water globally and is a testament to the market’s appetite for our technology and products,” said Manoj Singh, CEO of Acuva.
The proceeds of the financing will be used to meet the rapidly growing demand for Acuva’s proprietary products in global markets and to fund the growth of the Company’s teams both in Canada and abroad.
Acuva has established global leadership is UV-LED disinfection technology and secured partnerships with several major international Original Equipment Manufacturers (OEMs) to commercialize its Strike series of products encompassing proprietary IntenseBeamTM technology.
Acuva’s proprietary IntenseBeamTM technology, developed in partnership with the University of British Columbia, combines the proven performance of UV disinfection with the energy efficiency of LEDs, maximizing available UV power through optical lensing. This purifies drinking water with microbial disinfection rates up to 99.9999% to protect health and safety without adding any chemicals into the water, all without requiring any maintenance or ongoing servicing needs.
Through its Strike platform of customizable UVC-LED drinking water disinfection modules, Acuva is helping to make safe drinking water more accessible around the world.
“We look forward to continuing our work in enabling clean drinking water and beyond,” said Singh, “We are in a strong position to capitalize on our many growth opportunities and momentum.”
About Acuva Technologies Inc.
Acuva is a Burnaby-based 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.
More information about Acuva is available at www.acuvatech.com.
SOURCE Acuva Technologies
For further information: Mr. Manoj Singh, President & CEO, (604) 771-0165, email@example.com; Mr. Michael Walsh, Vice President of Finance and Corporate Development, (604) 218-2661, firstname.lastname@example.org