Dec 2, 2014, 8:30am EST Updated: Dec 2, 2014, 9:10am EST
Courtesy photo/ Desalitech
Desalitech, a Newton-based clean water technology company, has landed $ 11 million in equity funding from a private investment group led by Philadelphia-based Spring Creek Investment Management.
The round brings total funding to date to about $ 24 million, and the most recent investment will be used to accelerate growth.
“To gain participation from all previous investors in this third, oversubscribed funding round is a great vote of confidence in Desalitech and our future,” said Desalitech CEO Nadav Efraty in a statement. “Producing new water resources and improving the efficiency of water and wastewater treatment operations meets some of today’s biggest challenges. The world is changing, and we are proud to lead the way.”
The company, which moved from Israel to Newton last year, recently sold one of its water purification systems to one of the world’s largest Coca-Cola bottlers and plans to double its workforce in Newton in the coming months.
Desalitech, founded about five years ago, employs 20 and specializes in making water treatment more energy-efficient and cost-effective for companies.
Desalitech is among several water technology companies headquartered in the Boston area including Boston-based Oasys Water, which aims to build a global company by using novel technology to turn some of the world’s most toxic waters into clean, valuable resources.