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Technician engineer working in industrial plant by checking valve pipe, operation engineer working in industrial plant with tablet. Getty Images Image used for illustrative purpose.
Dubai-based venture capital firm BECO Capital has led a $2 million pre-seed funding round for New York-based clean water technology company Wisewell.
The sustainability-driven company recently announced the close of the funding, bringing the total funds raised to $2.6 million to date.
BECO has invested in more than 30 start-ups, including all three of the unicorns in the Middle East and North Africa (MENA) region.
Wisewell seeks to tap into the growing market for water purifiers through its installation-free machine that can turn tap water into high-quality drinking water. It allows consumers to track water quality and cost savings through an app.
The global market for water purifiers is expected to increase from $52.4 billion in 2020 to $90.1 billion by 2025.
(Writing by Cleofe Maceda; editing by Seban Scaria)
