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WaterHealth International announces $10 million closure
By siliconindia
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Hyderabad: California based WaterHealth International (WHI) today announced the first close of its Series D funding for a total equity investment of more than $10 million. This follows a Series C funding for a total equity investment of more than $11 million in December 2006. The financing is led by Dow Venture Capital (Dow) and Sail Venture Partners (SAIL).
With the deal expected to close by March 2009, this brings the anticipated total of Series D equity investment to approximately $20 million. WHI has nearly 650 installations of its water purification and disinfection systems around the world. The company has installed over 200 systems in India, with the capacity to serve approximately 1.6 million persons. In addition, WHI invests in health and hygiene education programs as part of its normal business practice to combat waterborne diseases in third world communities.
"We are pleased by the confidence exhibited in WaterHealth by our current investors. As we move to rapidly expand the number of communities we serve and achieve unprecedented scale, access to capital is critical to our continuing success," said Dr. Tralance Addy, Chairman and CEO, WaterHealth International.
"We will develop innovative technologies and business models that lower the cost of water purification and set new levels for efficient water use. We believe that investments in companies such as WaterHealth help us achieve this goal " said Dave Kepler, Chief Sustainability Officer, Dow Chemical Company.
"WaterHealth embodies the combination of technology and execution that we see in the most exciting clean technology business models. By achieving scale, WHI can have a tremendous impact on the world's clean water crisis," said Hank Habicht, Managing Partner,SAIL.
