September 2, 2009
VC Firms, USVP and Pitango Venture Capital Lead $12 Million Investment in Series B Funding for BPT
Based in Rishon-Le-Zion, Israel, BPT, which is an emerging leader in chemically membrane based solutions, announced today that it has closed $12 million in series B funding with US Venture Partners or USVP and Pitango Venture Partners leading the funding round. Other vc firms that participated in this round of funding include Aurum Ventures and Elron Electronic Industries.
BPT is a company that develops important chemical membrane based solutions to separate the water from waste water and is emerging as a leader in the industry. The chemically stable membrane technology that BPT produces is becoming more of a key component waste water processing for companies who are in the landfill, mining, bio pharmaceutical, and food industries to help them with the increasingly more strict environmental laws, reuse water, and reduce operating costs. BPT membranes have been proven in the field to drastically reduce costs in purifying some of the most aggressive waste water streams.
According to BPTâ€™s CEO, Nir Kinory, the team of BPT is very pleased to have both USVP and Pitango Venture Capital on board, because both vc firms have extensive experience in building great companies. Along with the companyâ€™s existing investors, the experience from these new investors will be of increasing value as BPT continues to grow and expand.
According to USVPâ€™s Jacques Benkoski, USVP for the past six years has been investing in emerging companies who are in the clean tech industry, and the vc firmâ€™s investment in BPT is its first investment in Israel. Mr. Benkoski added that BPT has everything that USVP is looking for and believes that his efforts to lead USVP investment in BPT will be a good opportunity for USVP. BPT is playing a unique role in the clean tech marketplace and offers a product that is projected to take over the waste water cleaning market over in an aggressive manner.
Pitangoâ€™s Ittai Harel further stated that the clean tech industry is becoming a growing concern in the global marketplace. In looking at BPTâ€™s profile, the companyâ€™s revolutionary technology and its outstanding R&D group has placed it in a great position to play a major role in nanotechnology in water purification technology.
USVP is a leading vc firm that is based in Silicon Valley and is dedicated to turn exceptional entrepreneurs into world class companies that have the potential to lead their industries. USVP primarily invests in early stage companies who are in the various industries that USVPâ€™s partners have their greatest experience in. Some other companies in USVPâ€™s portfolio include 3Ware, 4INFO, Adify, Astute Networks, Fresh Choice, Electric Cloud, and others.
Founded in 1993, Pitango Venture Capital is one of Israelâ€™s leading vc firms and has offices in both Israel and Silicon Valley. Pitango Venture Capital primarily invests in seed, early, and expansion stage companies who are in all sectors of the tech industry. Some other companies in Pitangoâ€™s portfolio include Civcom, Surf Communication Solutions, AeroScout, Axis Mobile, and others.
For more information about BPT, click here.
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