SG’s wastewater treatment startup Hydroleap raises $1.9m led by Wavemaker Partners

Photo: Hydroleap

Singapore-based wastewater treatment startup Hydroleap has raised SG$2.6 million ($1.9 million) in a funding round led by Wavemaker Partners, according to a statement.

Other investors including Seeds Capital, 500 Startups’ Southeast Asia-focused 500 Durians fund also participated in this round.

Founded by Dr. Mohammad Sherafatmand, the startup provides an environmentally-friendly solution for wastewater treatment by replacing chemicals with electricity. It currently provides end-to-end solutions at construction sites and is expanding to new verticals in the mining, palm oil and semiconductor industries.

The company said the fresh capital will be used to apply its proprietary technology in industrial parks, mining, palm oil and semiconductor industries. Hydroleap had earlier raised unspecified funding from SGInnovate, Sparklabs Cultiv8, Sparklabs Global Ventures and Entrepreneur First.

“We are proud to journey with Hydroleap to deploy three thousand systems in Singapore alone. We firmly believe Hydroleap is an example of a defensible and sizeable company from Southeast Asia,” said Paul Santos, Managing Partner at Wavemaker Partners.

Wavemaker Partners in June secured a $60-million first close for its $100-million third Southeast Asia fund from investors including Pavilion Capital, the International Finance Corporation (IFC), and Temasek Holdings.

Limited Partners (LPs) who invested in this fund include the family offices of the co-founders of US-headquartered companies such as Microsoft (Vulcan) and Facebook (EE Capital), besides Singapore’s Keppel Corporation, multi-family office Aglaia Family Office, and Lance Gokongwei, chief executive of Philippine conglomerate JG Summit Holdings.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.