The Finnish company Sofi Filtration that deals with industry water usage innovation has bagged fresh funding of €3M on 15th October 2020. The funding was led by Emerald Technology Ventures, which was further joined by Voima Ventures. This is the very first investment from recently announced US$100M fund by Emerald Technology Ventures for water impact.
The Soft Filter technology
The Nordic enterprise has been into designing and development of state-of-the-art technology for liquid filtration since 2011. The product that attracted this new investment is the self-clearing and automated microfiltration system, Sofi Filter. Sofi Filter is a unique, low-touch, rugged, and efficient system to filter huge industrial markets that are facing strict environmental regulations. These industries include upstream oil & gas and upstream mining manufacturing processes, wherewith increase of extraction of per unit materials results in decrease in freshwater availability.
As a part of the funding deal, Helge Daebel who is a partner at Emerald Technology Ventures will be joining the board of Sofi Filtration. The enterprise has earlier gained €50,000 funding in 2015 from EASME, i.e. the European Union’s Executive Agency for small and medium industries. This newly achieved investment will help them grow their business to the full potential of technology.
The previous investments received by the enterprise
This year earlier, the company also received investments from BSAP Fund, Baltic Sea Action Plan Fund. The funds help the enterprise to purify on-site wastewater. With the help of Sofi Filter, the microplastics entering into large water streams and Baltic Sea can be efficiently removed. The filter can eliminate plastic particles as small as 0.3µm to flow from water. Sofi Filtration intends to use the received funding to offer recycling, plastic manufacturing or testing treatment plans on-site. The energy competent microfiltration solutions offered by Sofi Filtration are useful to many industries like metallurgy, mining and others. The company was founded in 2011, by Ville Hakala, Simo Aho and Pertti Rantala and is a Finnish water filtration technology provider.
About Emerald Technology Ventures
The Private Equity Firm, Emerald Technology Ventures is a VC that invests in clean technology. The firm was founded in 2000 by Gina Domanig and is headquartered in Zürich, Switzerland. Over the years Emerald Technology Ventures has invested in several areas of energy, materials and water. Their investors include many MNCs and financial institutions. It is among one of the largest venture portfolios across North America and Europe and is a global leader of cleantech investments.
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