Tagged: water

$6.25 million first close filed by water cooler developer Bevi


XDATA – December 1st 2015
$6.25 million was raised by Bevi according to information filed with the SEC. The company initiated a first close after selling 96% of its planned $6.5 million unregistered private offering. The non-brokered equity securities started to be sold to five investors on November 17th. The equity offering’s estimated net proceeds will amount to $6.25 million which excludes $255,000 to be paid toward officers’ salaries. Until this disclosure Bevi had raised an estimated $1.98 million in unregistered securities via one previous financing round.
Bevi markets and develops a smart water cooler that helps employees create their own flavored and sparkling drinks.
Sean Grundy (CEO) leads the Boston MA based company which was registered in 2013. Bevi elected to keep its revenues undisclosed.
The executive team includes Elizabeth Becton.
The board of directors includes Christopher Lai and David J Bates.

The company has raised an estimated total of $8.23 million via private unregistered security offerings.

Bevi is registered under the name Hydration Labs.

Offering recap
Status: First close
Company: Bevi
Industry: Other Technology
Amount offered: $6.5 million
Amount placed: $6.25 million
SEC filing: Source
First sale: 11-17-2015
Data as of: 12-01-2015
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Rachio files for first close after selling 74%


rachioA first close of $2.49 million was initiated by Rachio on its $3.38 million equity offering. So far twenty-seven investors committed to the non-brokered placement which started today. Based on the offering’s structure, the company has until October 2015 to raise an extra $895,000. Two previous unregistered financing rounds raised an estimated $1.2 million.

Rachio markets and develops a smart sprinkler controller for yards. The device, once linked to WiFi, will automatically adjust for changes in weather and seasonality, using weather intelligence and analytics. The controller can be manually controlled via smartphones. The application is available for iOS and Android. The device retails for $249. The company is a winner of the Colorado Innovation Challenge and APEX Challenge.

Christopher Klein (President and CEO) leads the Denver CO based company which was registered in 2013. Rachio elected to keep its revenues undisclosed.
The executive team includes Franz Garsombke and Gary Stone.
The board of directors includes Jordan Mendell.

The company has raised an estimated total of $3.69 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Rachio
Industry: Other Technology
Amount offered: $3.38 million
Amount placed: $2.49 million
First sale: 10-31-2014
Data as of: 10-31-2014

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Grayl raised $495,000 in equity at first close


graylGrayl reported selling 50% or $495,000 of a new unregistered private offering. A total of eight investors subscribed a little over a week ago to the company’s $1 million non-brokered equity financing. $505,000 in additional funding can be raised before May 2015 based on the placement’s structure. This is the first time Grayl is selling securities under a registration exemption.

Grayl markets, develops and designs a water filtration cup that works like a French press. The cup filters 16 ounces in 15 seconds. Replaceable filters or purifiers last 300 uses (40gal/150L) to reduce waste and save you money. Once the filter is removed, the rest is dishwasher safe. The cup retails for $70, filters for $20 and purifiers for $40.

Nancie Weston (President and CEO) leads the Seattle WA based company which was registered in 2012. Grayl elected to keep its revenues undisclosed.
The executive team includes Travis Merrigan.

Offering recap
Status: First close
Company: Grayl
Industry: Retailing
Amount offered: $1 million
Amount placed: $495,000
First sale: 05-26-2014
Data as of: 06-04-2014

Aquafiber Technologies files $1 million final close


aquafiber technologiesAquaFiber Technologies disclosed selling $1 million worth of equity securities as part of a new financing round. The financing which started to sell one month ago was subscribed in full by twenty-seven investors. The equity offering’s estimated net proceeds amount to $726,000 excluding $274,000 earmarked for the payment of officers’ salaries. The company closed three previous unregistered private placements which raised an estimated $23.9 million.

The company developed and commercializes a patented, dual nutrient (phosphorous and nitrogen) removal process that cost effectively removes nutrients, bacteria, metals and toxicity from surface waters and industrial wastewater. In addition to the benefits of surface water remediation, the algal biomass produced from the process represents a potential secondary market in renewable energy production and sustainable soil amendments.

The company is headquartered in Winter Park FL. Revenues on or below $1 million were reported by AquaFiber Technologies.
The executive team includes Duane De Freese, Kirby B Green, Rebecca Taylor Burnett, Ronald L Edwards, Ronald P Allen and William W Fagan.
The board of directors includes George Thomas Bland, James Madison, Kenneth C Wright, Mary Olson, Michael Marder, Mj Soileau, Richard A Nunis, Robert F Stonerock, Thomas Yochum and Thomas L Keon.

The company has raised an estimated total of $24.9 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: AquaFiber Technologies
Industry: Other
Amount offered: $1 million
Amount placed: $1 million
First sale: 02-28-2014
Data as of: 04-08-2014

After crossing the Hudson River, BayCycle launches a $600,000 debt offering


baycycleBayCycle disclosed hitting the market to raise $600,000 via debt issuance. $10,000 has already been subscribed by one financial backer. The non-brokered placement started on March 5th. An additional $590,000 in funding is to be raised until the offering draws to a close in March 2015. This is the first debt financing done by the company under a registration exemption. The company launched a campaign on indiegogo which raised $5,000 to promote water biking through events, group rides and possibly competitions.

The company is developing a kit to turn road bikes into water bikes. The kit will be a modern, easy-to-use, compact system that works universally with any of the one billion bikes on the planet to enable riding on the water. The kit will enable users to fix a bicycle atop a raft geared to convert pedaling into power.

Judah Schiller (CEO and President) leads the San Francisco CA based company which was registered in 2013. Revenues were not reported.

Offering recap
Status: First close
Company: BayCycle
Industry: Other Technology
Amount offered: $600,000
Amount placed: $10,000
First sale: 03-05-2014
Data as of: 03-19-2014

Tethis disclosed information on its $600,000 debt issuance


thesisTethis reported selling 72% of its debt issuance via a subscription which launched a little over a week ago. According to the information disclosed, thirteen subscribers ponied up $430,000 out of the $600,000 the company expected to raise. Based on the offering’s structure, the company has until February 2015 to raise an extra $170,000. A prior unregistered securities offering which raised an estimated $800,000 was completed by the company.

The company develops and markets super-absorbent biodegradable foams and powders based around a patented technology for various water treatment situations.  Tethis markets its products under the Tethex name. According to the company, its products solve the risk, cost, and technical difficulties found in the treatment of highly concentrated brine waste (the super concentrated by-product that results from treating brackish water or seawater) as well as other hazardous wastes. The products are made from a combination of readily available organic, bio-degradable materials.

Scott A Bolin (President, CEO and Co-founder) leads the Raleigh NC based company which was registered in 2012. Tethis kept its revenues undisclosed.
The board of directors includes Christopher A Evans, Kenneth Bowdon and Tom Darden.

The company has raised an estimated total of $1.23 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Tethis
Industry: Other Technology
Amount offered: $600,000
Amount placed: $430,000
First sale: 02-24-2014
Data as of: 03-05-2014

Water testing device maker raised $375,000 via a private debt offering


ANDalyze, Inc. announced a first close of $375,000 out of its expected $1 million debt fundraising effort. Five investors participated to the offering which will remain open for a year. The company raised around $3.2 million since its inception via multiple financing rounds. IllinoisVentures, a seed and early stage technology firm, is a backer via its Illinois Emerging Technologies Fund. Other investors include the University of Illinois, Illini-Itec, Ralph Dumke, Serra Ventures which invested in the company in 2012 via its Serra Capital Fund and Meidlinger Partners a late and growth stage firm specialized in water and wastewater related investments.

ANDalyze is leveraging the discovery that DNA can be engineered to test for organic compounds such as glucose in blood and other organic markers in biological samples. The company developed and markets products for testing water contamination using DNA as a catalyst which offers simple, fast, inexpensive and reliable detection of trace metals and other target chemicals. The technology is a universal platform which can be adapted to meet the needs of other markets.

The company which changed its name from DzymeTech, Inc.  was founded by Yi Lu in March 2005. It is headquartered in Champaign IL and is lead by William Thalheimer (CEO). The executive team includes Ron van Os (COO), Debapriya Mazumdar (Product development), Marty Dugan (Marketing and business development) and Kanaiya Naik (Sales).

Stealth biological water treatment company in the market with $1 million offering


American Biofilter LLC raised $875,000 from nine investors via a non-brokered private placement of equity and mezzanine instruments. This is the first known US private placement completed by the company.

The company is expected to come out of stealth mode when it launches this summer. At this time Random Research was unable to confirm what specifically the company will be launching. However we assume the company will be promoting continuous biological waste water treatment services, and specifically a technology to decrease selenium concentrations in water discharged mostly by mine sites and coal fired power-plants. Regulatory agencies in North America are pushing for a reduction in concentration levels. One of the co-founder was the developer of ABMet, a biological filtration system that relies on naturally occurring, non-pathogenic bacteria to precipitate selenium. The technology was acquired by General Electric (GE) in 2006. The US Environment Protection Agency has basic information on selenium in drinking water on its website and an in-depth article on selenium and water treatment challenges was published on WaterWorld‘s website in early 2012.

American Biofilter, headquartered in Salt Lake City UT, was founded in May 2012 by Tim Pickett (CEO) and James Peterson (COO) both former Zenon and GE Power & Water executives.

BYOB* purified water station distibutor raises $780,000 in equity


Flo Water, Inc., successfully closed a $750,000 equity offering from five investors. Flo Water was originally founded in August 2010 and converted in a Delaware corporation early this month following the financing.

The company’s purpose is the distribution and operation of water vending machines as well as the distribution and sale of reusable water bottles. The goal of Wyatt Taubman, the founder, is to provide an alternative to plastic water bottle usage and curb pollution. The “bring your own bottle”* vending machines use municipal tap water that goes through a proprietary six stage purification system and is held in tanks that are sterilized every eight hours.

The “quick refill” vending machines offer a choice of standard refill sizes as well as an adjustable temperature settings of 40°F, 43°F, 46°F, and 50°F. A 17 ounces refill costs 25 cents, 25 ounces 35 cents and 34 ounces 50 cents.