Florida, USA-based deep-tech startup revolutionising life’s most important component, water, Weo received investment from a leading European VC, Korelya Capital. The company announced the investment on March 24, 2023.
So far, the total funds raised by the company stand at USD 15 million.
Purpose of financing for Weo
With the latest funding from Korelya Capital, Weo seeks to strengthen its position as a breakthrough innovator in the industry. The company’s product, i.e. Weo’s B2C product (Weo Bottle), is sales-ready. The company seeks to support the launch of the consumer market.
Meanwhile, it intends to accelerate the commercial phase of its agribusiness solutions. Weo plans to positively impact the water used across the whole food chain.
The company earlier raised funds from high-net-worth individuals as well as entrepreneurs.
What the Weo’s official has to say
Anthony Ginter, Founder and CEO of Weo, said, “Korelya Capital’s investment marks a significant milestone in Weo’s development and a recognition of the remarkable progress and innovation that Weo’s team has achieved over the past year. We are grateful for the incredible support we have received from our initial private investors over the last two years; this new funding propels us into a new phase of growth, reinforcing our ambition to become the next deep tech champion in the US, Europe, and Asia”.
What the investor has to add
Fleur Pellerin, Chairwoman and Co-founder of Korelya Capital, further added, “As advocates of a sustainable tech ecosystem, we have been deeply inspired by the founder’s unique approach to water science and by Weo’s ESG roadmap, including health impact, sustainable agriculture, healthy foods, and animal welfare. We look forward to supporting the Weo team in Europe and Asia in the coming years.”
In addition, Antoine Dresch, Founding partner of Korelya Capital, said, “We are excited to partner with the first Precision Water deep-tech company and support its expansion to diverse industries, all the way from consumer goods, food, agriculture, CBD, cosmetics, to healthcare. Along with Weo’s growth, Korelya aims to consolidate its position as a strategic shareholder”.
About Korelya Capital
Fleur Pellerin and Antoine Dresch launched Korelya Capital in 2017. Korelya Capital is a late-stage venture fund. It has EUR 750 million in assets under management with offices in Paris, London, Seoul and Singapore.
European tech champions, becoming global category leaders such as Wallapop, Vestiaire Collective, Glovo, Bolt, Ledger, and FINN, are part of the VC’s portfolio. The company boasts an extensive network in Europe as well as Asia.
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