Budapest-based Organica water closed its Series B financing round successfully. While no financial terms were disclosed, the round was led by International Finance Corp (IFC), the biggest global development institution worldwide that focuses its investments in the private sector. Private equity fund WLR China Energy Infrastructure Fund, RNK Capital of New York and Gamma Capital Partners of Vienna also participated in the round.
Organica Water provides solutions for wastewater treatment and recycling. Its latest solution is the Organica Food Chain Reactor (FCR) that uses biofilm to treat wastewater. Compared to other sludge-based solutions, Organica said its FCR solution lowers physical and "psychological" footprints while at the same time reducing a company's infrastructural and operational expenses. Organica will use the funds gathered in its recent Series B round for business development as it strives to expand to new markets worldwide. It will also be used to continue research and development efforts, launch its wastewater treatment plant design platform, and as general working capital.
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