Oxyle has announced a 2.8m Swiss francs pre-seed funding round to bring to market their mission of improving the health of our precious bodies of water and protecting ecosystems against micro-pollutants.
Water contaminated with persistent and toxic pollutants is one of the world’s most pressing health and environmental concerns. All over the world precious bodies of water are contaminated with micropollutants such as pesticides, pharmaceuticals, and PFAS chemicals.
Moreover, at present, 80% of the world’s wastewater is discharged in rivers, lakes and groundwater bodies without receiving any treatment.
Rapid industrialisation and growing demand for better consumer goods means ever increasing discharge of toxic pollutants into effluents and a strain on our freshwater resources.
These market drivers and the lack of effective solutions have created an opportunity for Oxyle to bring their treatment and monitoring solution to market and fill the void.
The funding round was led by Wingman Ventures with participation from SOSV, Better Ventures, and another.vc. Including this round, with pre-seed non-dilutive funds and grants raised last year, Oxyle has raised over 7m Swiss francs in total.
Oxyle pledges that the proceeds from the funds raised in this round will be used to strengthen their team with upscaling capacities, expand their customer portfolio into attractive market segments, build partnerships to enter new locations, and most importantly, to bring their first product to market next year.
Dr Fajer Mushtaq, CEO and co-founder of Oxyle, commented: “We are living in an era where we face several existential crises on a daily basis and lack of clean, pollutant-free water is one of them.
“At Oxyle, we are bringing market-disruptive solutions that remove and detect micropollutants in an efficient, cost-effective and sustainable manner for our industrial and municipal customers.
“We are exploiting new market drivers such as stricter regulations and growing public pressure to expand our operations in attractive market segments and help a diverse portfolio of global customers.
“We are excited to work in close partnership with our investors, customers, regulators and partners as we prepare for the market entry of our latest product, our batch treatment system.”