Water treatment company invests $19M to accelerate growth in global markets
MIOX Corporation announced that DCM, a leading international venture capital firm, has led a series C investment round totaling $19 million with participation from existing investors Sierra Ventures and Flywheel Ventures. Over the past year, MIOX has experienced strong growth in the U.S. municipal drinking water disinfection market and is leveraging this success to pursue opportunities in institutional and industrial markets...
• MIOX raises Series C investment round led by DCM to accelerate market expansion and development of applications that address the need for affordable, safe and healthy water
ALBUQUERQUE, NM, Aug. 26, 2008 -- MIOX Corporation, a provider of advanced water treatment systems, announced that DCM, a leading international venture capital firm, has led a series C investment round totaling $19 million with participation from existing investors Sierra Ventures and Flywheel Ventures. Over the past year, MIOX has experienced strong growth in the U.S. municipal drinking water disinfection market and is leveraging this success to pursue opportunities in institutional and industrial markets. MIOX has successfully developed and brought to market technology for a variety of other applications in market segments including personalized handheld water purification, cooling towers, food and beverage and aquatics.
According to MIOX CEO Carlos Perea, "This investment led by DCM will enable MIOX to take full advantage of its outstanding and proven on-site generation technology and move more rapidly into strategic markets. The demand for safe, treated water continues to grow throughout the world. Our new partner, DCM, provides exceptional experience in global market development and will be integral to our plans to grow internationally. We are excited that they have joined our existing group of investors."
Tom Blaisdell, a general partner at DCM, noted, "MIOX is an outstanding company that complements our investment objectives in clean technology and our mission to help entrepreneurs address global needs and successfully bring products to markets. We understand the tremendous growth potential in the water sector and also recognize that MIOX technology has multiple applications within the sector. With DCM teams in the United States and Asia, we look forward to helping MIOX access global markets while they continue to build on their track record of successful product innovation."
Jeff Loomans, partner at Sierra Ventures, added, "Sierra remains excited about the growth rate of the water segment and the potential for global expansion. MIOX has assembled a strong management team and is poised to continue its rapid development."
MIOX Corporation's patented water disinfection technology is used U.S. for public drinking water systems, water reuse projects, and a variety of commercial and industrial applications.
DCM is an early stage venture capital firm supporting entrepreneurs building world-class technology companies.
Sierra Ventures is a privately held venture capital firm focused on investments in Information Technology companies.
Flywheel Ventures is a venture capital firm that empowers entrepreneurs to build globally-competitive businesses based on innovations in information technology and the physical sciences.