RELEASE FROM bNOVATE TECHNOLOGIES
bNovate to expand globally –
accelerating rapid water monitoring – with new Emerald investment
Zürich/Lausanne, Switzerland, 20.6.2023: bNovate Technologies, a leader in rapid microbial detection systems for water, announced a Series C investment round of CHF 12 million led by Cleantech venture capital pioneer Emerald Technology Ventures and followed by existing shareholders. The infusion will accelerate the Switzerland-based company’s global expansion as well as grow its product portfolio, which is currently designed for water utilities, the food and beverage industry, research facilities and the pharmaceutical industry.
bNovate’s successful product BactoSense, the result of Swiss innovation and engineering, is a compact, connected, and robust device that can monitor water continuously and detect microbial contamination in only 20 minutes. Traditionally, a rigorous assessment would take three to five days. Not only is it faster, but it has also made massive gains in efficiency and accuracy, as conventional laboratory methods require more resources, scientists onsite, and often undercount the bacteria present in a given water sample.
Applications for bNovate’s devices include municipal utilities for safe drinking water and industrial applications for the efficient cleaning of production assets and safely produced goods. Currently, there are already hundreds of installations in the field. Industrial applications will grow in scope as climate change and growing urbanisation exacerbate the stress on water networks and the imbalances in supply and demand. Water managers urgently need fast, simple and cost-effective ways to ensure that vast quantities of water are clean and safe. bNovate’s nimble solution aims to capitalize on this future rapid growth in the market for microbiological water testing, which is expected to expand by 6.8% annually between 2020 and 2027.
“We look forward to supporting the company in their growth, especially in the Americas and APAC regions,” says Helge Daebel, Partner at Emerald, who will be joining the Board of Directors at bNovate. “The speed and automation of this technology in detecting bacteria in water has the potential for massive positive impact both in the municipal and industrial space.”
“We are proud to offer solutions to the market that contribute to the global water safety improvement and allow companies to be more sustainable,” says Simon Künzi, CEO at bNovate. “Now we need to find the right people to join our passionate sales team and help make a difference.”
Emerald has extensive experience and a long history in water innovation, including the launch of a dedicated water fund in 2020. Its track record in this space includes investments in vanguard companies Aganova, FIDO and SewerAI.
About Emerald Technology Ventures
Emerald is a globally recognized venture capital firm building a sustainable future at the crossroads of industry and technology. Founded in 2000, it is a pioneer in open innovation, providing multi-national corporations with rich deal flow and insight in the sectors and markets of tomorrow. Emerald has managed and advised assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm is dedicated to tackling big challenges in climate change and sustainability via over 500 venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups. For more information, please visit www.emerald-ventures.com.
About bNovate Technologies
bNovate Technologies is a multi-awarded scale-up that improves water safety with technology. It is developing and commercializing simple and effective tools that analyze microbial water quality in as little as 20 minutes. The products and services are targeted at industrial facilities and environments. The goal of bNovate Technology is to bring water safety into the digital age with automatic and connected solutions. The company is trusted by water professionals in 16 countries in Europe and is expanding in the Americas and Asia. For more information, please visit www.bnovate.com.