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Anfiro Filters $1.1M Seed Round

Anfiro, a U.S.-based water treatment developer based on Purdue University and University of Notre Dame research, has closed a $1.1M seed round that included Purdue's tech transfer office Purdue Research Foundation.

The round was led by the Prime Coalition, a charitable syndicate of various family offices, while Purdue Research Foundation participated through its Foundry Investment Fund.

Massachusetts state-owned development agency Massachusetts Clean Energy Centre (MassCEC) also provided money, as did an unnamed private backer.

Founded in 2014, Anfiro is developing polymer-based water treatment membranes that are designed to improve energy and cost efficiency. Anfiro claims using the technology for seawater desalination — cleaning the water of minerals and salt — could slash costs by up to 35%.

The membranes are said to be backwards compatible with existing treatment plants, capable of resisting chlorine injected for cleaning purposes and potentially viable for treating water consumed by industries such as oil, food or materials production.

The cash will be used to further develop the water membranes as Anfiro prepares to finalize a full-scale prototype of the technology during 2018.

Anfiro was launched by Jamie Mateus, the company's chief executive and a postdoctoral aerospace biomedical engineering fellow from Massachusetts Institute of Technology, along with Bryan Boudouris and William Phillip, associate professors for chemical engineering at Purdue and Notre Dame, respectively.

The spinout obtained a $150,000 convertible loan from undisclosed creditors in November 2016, according to deals database Pitchbook, following a $40,000 grant from MassCEC received in 2014.

Jamie Mateus said, "The combination of investment from Prime's donor-advised funds, foundations and family offices alongside university-affiliated support from the Purdue Foundry and public support from the MassCEC will be instrumental to Anfiro's success."

— Callum Cyrus, reporter
Originally posted at www.globaluniversityventuring.com/article.php/6246/anfiro-filters-1.1m-seed-round

Published originally:
Global University Venturing (Nov. 8, 2017)