WaterHealth International, Inc. (WHI) has concluded the first close of its Series C round of funding, with a more than $7 million equity investment anchored by Dow Venture Capital. WHI expects the final close of its round of funding by year end, with an anticipated additional $3 to $5 million investment.
Since WHI's inception, more than 450 systems using WHI purification and disinfection technology have been installed in a number of countries around the world, including India, the Philippines, and Mexico. The latest round of funding enables the company to more rapidly increase its global presence and demonstrate the potential of its scalable business approach.
"We are delighted that Dow recognizes WaterHealth's potential to make a major and sustainable impact on a critical global health issue," said WHI CEO Dr. Tralance Addy. "This investment by Dow enables us to develop the capacity to move more rapidly to reach more people in areas that have been historically difficult to serve. We welcome the opportunity for strategic partnership with Dow in this area."
"The relationship between Dow and WaterHealth International brings value to both companies on a number of fronts," said Jim Plonka, vice president of Venture Capital at Dow. "WHI is a company that offers practical and sustainable solutions to a very real human problem: 1.2 billion people with no ready access to safe drinking water. It is a company with tremendous opportunity for growth - in parts of the world where Dow is also looking to grow. And it is a company whose success story we can help to write, by leveraging the expertise of the Dow Water Solutions business to support WHI as it pursues new opportunities and new markets."
Source: Dow