bNovate Technologies raises CHF 12 Million

bNovate Technologies, a leader in rapid bacterial detection systems for water, has announced a CHF 12 million Series C funding round, led by cleantech venture capital pioneer Emerald Technology Ventures and supported by existing shareholders.

The cash injection will accelerate the Swiss-based company’s global expansion, while broadening its product portfolio, currently targeted at water companies, the food and beverage industry, research institutions and the pharmaceutical industry.

BactoSense, the result of Swiss innovation and engineering and bNovate’s flagship product, is a compact, connected and robust device capable of continuously monitoring water and detecting microbial contamination in just 20 minutes. Traditionally, a rigorous assessment would take three to five days. Not only is BactoSense faster, it also offers considerable gains in efficiency and accuracy. Conventional laboratory methods require more resources and scientists in the field, and often underestimate the bacteria present in a water sample.

Applications include water utilities for the supply of drinking water, as well as industry, particularly for monitoring the cleaning of installations and the manufacture of products with integrity. There are already hundreds of installations in the field. Industrial applications will become increasingly important as climate change and growing urbanisation exacerbate pressure on water networks and imbalance supply and demand. Water managers urgently need fast, simple and cost-effective ways to ensure that industrial quantities of water are clean and safe. With its ingenious system, bNovate aims to take advantage of the rapid growth in the market for microbiological water analysis, which is expected to grow by 6.8% a year between 2020 and 2027.

Thanks to its innovative spirit and positive contribution to global climate goals, bNovate has been recognised as one of Uplink’s top 10 innovative companies at WEF 2023 as well as by the Swiss foundation, Solar Impulse.

“We look forward to supporting the company’s growth, particularly in the Americas and Asia Pacific,” said Helge Daebel, Partner at Emerald, who will join bNovate’s Board of Directors. “The speed and automation of this technology for detecting bacteria in water has the potential to generate considerable positive impact, both in the public and industrial sectors.”

“We are proud to bring to market solutions that help improve water safety around the world and enable businesses to be more sustainable,” said Simon Künzi, CEO of bNovate. “Now we need to attract the talented people who will join our passionate sales team and help make the difference.”

Source: Press Release