Gradiant, a Boston-based water technology startup, entered the US unicorn club this week after raising $225 million in its first close of Series D led by BoltRock Holdings and Centaurus Capital. The round brought Gradiant’s total funding to date to over $400 million and its valuation to $1 billion.
One of the water sector’s companies with the quickest growth is Gradiant. The company has grown its top line by over 100 percent yearly for four years. It offers technologies to cut water usage and wastewater treatment systems for businesses in the pharmaceutical, semiconductor, food and beverage, and other water-demanding industries.
“This investment is a testament to Gradiant’s proven track record of rapidly inventing and commercializing water technologies to make a real difference in the economic and environmental footprints of our industrial customers,” said Anurag Bajpayee, Co-Founder and CEO of Gradiant.
The business will use the additional funding to enter critical markets to establish Gradiant as the chosen water partner for the major global industries. Along with supporting expansion into new regions, including the Middle East and Europe, the financing will boost Gradiant’s R&D initiatives.
Gradiant provides innovative solutions to reduce water usage
Gradiant was established in 2013 at the Massachusetts Institute of Technology and has already secured $392.4 million in funding. The firm claims that among its clients are the producers of chips Micron Technology and TSMC, the pharmaceutical behemoths Pfizer and GSK, and the food and beverage businesses AB InBev and Coca-Cola. Internationally, it presently employs over 900 people.
“As global manufacturing and supply chains continue to advance, they demand more and more water resources which are increasingly rare and finite. We are excited to partner with a company that has proven the ability to support these demands economically and energy efficiently,” said John Arnold, Founder of Centaurus Capital.
Some of the largest businesses in the world benefited from Gradiant’s innovative technology and integrated digital solutions, which help them use less water, recover precious resources, and turn wastewater into freshwater.
“A strong proven management team leads the company with a deep understanding of water technologies and the operational needs of Fortune 100 customers. We are thrilled to join Gradiant as it tackles the crucial water challenges of our time,” said Craig Huff, Founder and Managing Member of BoltRock Holdings.
One of the biggest venture capital fundraising rounds this year has been for Gradiant. Additionally, it represents the biggest funding in the field of wastewater treatment at least since the start of 2022.