Polycera treats itself to $9m series A

Polycera Membranes, a US-based polymetric membrane filter spinout of water treatment technology developer Water Planet, itself a spinout from University of California, Los Angeles (UCLA), closed a $9m series A round yesterday.

Venture capital firm Kairos Ventures led the round with participation from fellow VC firm Bluestem Capital and private equity company Wolfen Group.

Polycera Membranes was spun out from Water Planet to market a range of polymer membranes for drinking and wastewater filtration. The membranes are designed to be robust and permeable, offering a simplified cleaning process and higher resistance to fouling.

The product has been embedded in more than 80 installations across three continents since making its market debut in 2016, with a further 27 live trials currently underway.

Polycera Membranes has earmarked the funding for expansion in sales and manufacturing as well as research and development, as the company moves ahead with planned membranes for nanofiltration and reverse osmosis.

Polycera does not appear to have disclosed funding previously, however its parent Water Planet has raised a total of $14.6m since being formed in 2011, according to securities filings.

Bluestem Capital backed Water Planet’s series B round of undisclosed size in 2015, investing together with UCLA’s Venture Fund and industrial gases provider Air Liquide Group’s ALIAD Corporate Venture fund.

Wolfen Group also invested in Water Planet previously, however no date could be ascertained.

Simon Marshall, chief executive of Polycera Membranes, said: “Completion of the series A funding round is an important step forward for Polycera, creating a solid foundation on which to continue our dynamic growth.

“We are committed to bring to customers around the world the most advanced membrane filtration products that deliver the highest quality of treatment with unrivalled reliability at the lowest lifetime cost.”