ZwitterCo, a developer of advanced membranes for water treatment, raised a $58.4 million Series B, the company tells Axios.
Why it's the BFD: Founders and investors commonly say they want to "invest in water"; figuring out how to do so while making money has proved a challenge.
The big picture: ZwitterCo says it's developed efficient membranes that last longer than conventional tech.
- The Woburn, Mass.-based company chiefly sells its membranes to power generators, meat and poultry plants, dairy processors and other industrial customers.
Driving the news: Evok Innovations led ZwitterCo's all-equity round. It closed in May, concluding a raise that started in Q4 2023.
- DCVC, BHP, Munich Re Ventures, Siteground, HG Ventures and Blue Horizon Advisors participated.
Zoom in: Evok Innovations partner Naynika Chaubey joined ZwitterCo's five-member board.
