Gradiant Raises $225 Million to Accelerate Business Expansion
The landmark funding brings Gradiant’s valuation to $1 billion and underscores the company’s growth potential and differentiated position in the global water market.
Gradiant’s founders, Prakash Govindan (COO) and Anurag Bajpayee (CEO) (Photo: Business Wire)
BOSTON--(Business Wire / Korea Newswire) May 18, 2023 -- Gradiant, a global end-to-end solutions provider of advanced water and wastewater treatment, today announced it has raised $225 million in its first close of Series D financing. The round was led by BoltRock Holdings and Centaurus Capital, bringing Gradiant’s total funding to date to over $400 million and its valuation to $1 billion.
Gradiant is one of the fastest-growing companies in the water industry achieving over 100% YOY top-line growth for four consecutive years. The company will use the new financing to continue its expansion into strategic markets to make Gradiant the preferred water partner of the world’s essential industries. The funding will also support growth into new geographies, such as the Middle East and Europe, and further fuel Gradiant’s R&D programs.
“As global manufacturing and supply chains continue to advance, they demand more and more water resources which are increasingly rare and finite,” said John Arnold, Founder of Centaurus Capital. “We are excited to partner with a company that has truly proven the ability to support these demands in an economic and energy efficient manner.”
Gradiant designs, builds, and operates end-to-end water treatment solutions for the world’s most important industries, including semiconductors, pharmaceuticals, food & beverage, lithium and critical minerals, and renewable energy. The company’s proprietary technologies and integrated digital solutions reduce water usage, reclaim valuable resources, and renew wastewater into freshwater for some of the world’s largest companies, including Micron, TSMC, GSK, Pfizer, SLB, Rio Tinto, AB InBev, and Coca-Cola.
“This investment is a testament to Gradiant’s proven track record of rapidly inventing and commercializing water technologies to make a real difference in the economic and environmental footprints of our industrial customers,” said Anurag Bajpayee, Co-Founder and CEO of Gradiant. “BoltRock and Centaurus share our vision and bring smart, long-term capital that will help Gradiant grow into the world’s most impactful water company.”
“The company is led by a strong proven management team with a deep understanding of water technologies and the operational needs of Fortune 100 customers,” said Craig Huff, Founder and Managing Member of BoltRock Holdings. “We are thrilled to join Gradiant as it tackles the crucial water challenges of our time.”
Mr. Huff of BoltRock and Mark Danchak of General Innovation Capital will join the company’s board.
The company offers end-to-end water treatment and digital solutions across industries, including semiconductors, pharmaceuticals, food & beverage, lithium and critical minerals, and renewable energy. Gradiant’s innovative solutions reduce water usage, minimize wastewater discharge, reclaim valuable resources, and renew wastewater into freshwater. The Boston-headquartered company was founded at MIT and has over 900 employees worldwide. Learn more at gradiant.com.
About BoltRock Holdings
BoltRock Holdings is a family investment office based in New York City. BoltRock primarily focuses on providing flexible, patient, long-term capital to world-class companies in important industries.
About Centaurus Capital
Centaurus capital is the family investment office for John Arnold. The firm invests in a broad array of sectors including industrials, energy, financials, and renewables.
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