Puraffinity, a London, UK-based startup developing precision technologies which remove toxic perfluoroalkyl and polyfluoroalkyl substances (PFAS) from water, raised £6.73m in funding.
The investment was made by BGF. This investment completes Puraffinity’s £16.93m Series A round, following existing funding from Octopus Ventures, HG Ventures, Kindred Capital, and Verve Ventures, as well as materials science sector specialist fund Universal Materials Incubator Co (UMI).
The company intends to use the funds to scale up production of its patented, PFAS-capturing material, Puratech®, and expand its business reach globally.
Founded in 2015 by Henrik Hagemann & Gabi Santosa and spun out of Imperial College, and led by newly appointed CEO Vincent Caillaud, Puraffinity provides a differentiated solution to the PFAS problem as its technology removes PFAS, which have been linked to multiple health issues, including cancer, from water.
Puratech, the adsorbent media that Puraffinity has developed, can be applied across use cases as it features a customisable plug-in solution that fits into any existing water treatment system. Puratech can also be tailored to capture specific PFAS compounds, ensuring that global users can meet the regulatory standards of different markets.
Mr Caillaud brings exceptional industry experience, with more than 20 years working in the water sector. He was previously CEO of Veolia Water Technologies & Solutions, a global water technology business unit within the world’s largest water, energy and waste management company, Veolia.
The appointment of Caillaud as CEO to boost market access for the technology will allow Puraffinity’s founder Henrik Hagemann to focus on furthering the company’s technological advantage as Chief Product and Innovation Officer.
FinSMEs
10/09/2024