Xylem Announces Investments in Know-how Improvement Money Burnt Island Ventures and The Westly Team
RYE BROOK, N.Y., April 12, 2022–(Organization WIRE)–World water engineering business, Xylem (NYSE:XYL), has declared Constrained Spouse (LP) investments in undertaking cash money Burnt Island Ventures and The Westly Group’s Money III and IV, supporting the progress of revolutionary water and industrial technologies. The merged $20 million financial investment across both of those money types a crucial section of Xylem’s external innovation application, Xylem Innovation Labs. These investments bolster Xylem Innovation Labs’ open innovation network and its dedication to bringing the most important water technological innovation improvements to market place at pace and scale.
Xylem’s posture in Burnt Island Ventures, focused on supporting early-phase h2o innovation, is complemented by The Westly Group’s emphasis on energy, business 4., and cybersecurity. With each other, Xylem will have a worldwide view and early visibility of systems across the drinking water worth chain, such as electronic solutions, that are on the route to technological and business success.
David Flinton, Main Innovation, Technology and Items Officer at Xylem, said, “A key aspect of Xylem’s innovation ecosystem is investing in early-stage know-how, no matter if produced in-home, or by promising external business people and innovators. Our workforce, Xylem Innovation Labs, is functioning closely with our colleagues at Burnt Island Ventures and The Westly Group to nurture and scale disruptive thoughts in the drinking water business. As a chief in acquiring crack-by way of drinking water tech improvements, we know that collaborating with a broad community of companions, including venture funds firms and start off-ups, is vital to the upcoming of optimizing drinking water management.”
Tom Ferguson, Founder and Handling Companion, Burnt Island Ventures, and former VP of Picture H2O, the primary h2o innovation accelerator and ecosystem for h2o entrepreneurs, reported “It can be been an absolute satisfaction working with the Xylem workforce above the yrs, and they’re an vital lover as we build the seed fund of decision for drinking water business owners, globally. Their financial investment, by means of Xylem Innovation Labs, is a reflection of how significantly the business normally takes the operate of supporting the new frontier of water technological know-how.”
Steve Westly, Founder and Handling Partner of The Westly Group said, “There is a worldwide revolution and convergence of electricity, water, buildings and IoT, unlocking potent chances for investment. We’re happy to spouse with Xylem to identify new systems to superior serve the world’s h2o desires.”
Xylem Innovation Labs identifies and leverages the following era of systems and traits in assist of Xylem’s mission to generate a drinking water-safe globe. With a world presence, the software supports start out-ups by rapidly-tracking technological know-how development and leveraging Xylem’s sources to speed up new innovations to current market.
Xylem (XYL) is a top international h2o technology corporation dedicated to resolving essential drinking water and infrastructure worries with innovation. Our 17,000 various staff sent earnings of $5.2 billion in 2021. We are producing a extra sustainable entire world by enabling our customers to enhance water and useful resource management, and aiding communities in more than 150 nations come to be h2o-protected. Be a part of us at www.xylem.com.
About Burnt Island Ventures
Burnt Island Ventures was launched in 2020 to turn out to be the pre-eminent early phase venture fund for drinking water business owners, filling a gap in the $900 billion industry’s funding construction. The staff has exceptional water know-how, comprising founders, traders, and senior specialized and industrial h2o executives. Controlling Spouse Tom Ferguson ran Think about H2O’s Accelerator, the industry’s #1 founder method, for around 5 many years. Burnt Island Ventures closed its first $30m fund in February 2022, and is by now invested in 15 businesses active in zero liquid discharge, industrial filtration, municipal and utility effectiveness, drinking water entry, contaminant destruction, flood prevention, stormwater management management, and infrastructure renewal.
About The Westly Group
The Westly Team is a leading undertaking funds company centered on sustainability with field-primary returns. Founded in 2007, the firm has experienced nine organizations go community including Tesla Motors. The Westly Group’s most up-to-date $300 million fund invests in startups concentrated on the digitization and sustainability of power, mobility, buildings, industrial technology, and cybersecurity.
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Houston Spencer, Xylem
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