Tuesday, 31 March 2015
Canberra Company secures $2.1 million in Series A Funding Round
Local company Nexus eWater Pty Ltd have recently announced the successful closing of $2.1 million in Series A funding from Investors in the US, Australia and UK with proceeds assisting to complete the initial product roll-out in the US market.
ACT Chief Minister Andrew Barr said "The ACT Government recognises that innovation is the foundation of economic growth and competitiveness. We are committed to positioning Canberra as an innovation hub into the future, and I am pleased that the ACT Government was able to assist in the initial stages of Nexus eWater’s proof of concept with a grant through the Innovation Connect and Discovery Translation Funds."
"By securing this significant investment, Nexus has demonstrated that a small amount of assistance at an early stage has the potential to stimulate significant growth and economic returns."
Nexus eWater Pty Ltd has developed the world’s first practical, on-site water and energy recycler for new and existing homes, and is a prime example of a world-class technology start-up that has emerged from Canberra. The Nexus eWater Domestic Water and Energy Recycler allows home owners to conserve both energy and water by turning their grey waste water into a valuable resource.
The Innovation Connect program encourages innovation among local businesses and helps to develop new companies and technologies in Canberra by providing matched-funding grants of up to $50,000 to assist early stage ACT businesses and entrepreneurs to accelerate the development of products and services through commercialisation pathways.
Further information visit the Innovation Connect page.