MIOX Raises $19 Million

MIOX Corp., an Albuquerque, N.M.-based provider of water treatment systems, has raised $19 million in Series C funding. DCM led the round, and was joined by return backers Sierra Ventures and Flywheel Ventures.

 

PRESS RELEASE

MIOX Corporation, a provider of advanced water treatment systems, announced that DCM, a leading international venture capital firm, has led a series C investment round totaling $19 million with participation from existing investors Sierra Ventures and Flywheel Ventures.  Over the past year, MIOX has experienced strong growth in the U.S. municipal drinking water disinfection market and is leveraging this success to pursue opportunities in institutional and industrial markets. MIOX has successfully developed and brought to market technology for a variety of other applications in market segments including personalized handheld water purification, cooling towers, food and beverage and aquatics.

 

According to MIOX CEO Carlos Perea, “This investment led by DCM will enable MIOX to take full advantage of its outstanding and proven on-site generation technology and move more rapidly into strategic markets. The demand for safe, treated water continues to grow throughout the world. Our new partner, DCM, provides exceptional experience in global market development and will be integral to our plans to grow internationally. We are excited that they have joined our existing group of investors.”

 

Tom Blaisdell, a general partner at DCM, noted, “MIOX is an outstanding company that complements our investment objectives in clean technology and our mission to help entrepreneurs address global needs and successfully bring products to markets. We understand the tremendous growth potential in the water sector and also recognize that MIOX technology has multiple applications within the sector.  With DCM teams in the United States and Asia, we look forward to helping MIOX access global markets while they continue to build on their track record of successful product innovation.”

 

Jeff Loomans, partner at Sierra Ventures, added, “Sierra remains excited about the growth rate of the water segment and the potential for global expansion. MIOX has assembled a strong management team and is poised to continue its rapid development.”

 

About MIOX Corporation:

MIOX Corporation (www.miox.com) is focused on solving one of the world's most pressing issues: the need for affordable, safe, and healthy water.  MIOX's patented water disinfection technology replaces the need to purchase, transport and store dangerous chemicals.  MIOX is used in over 30 countries and in hundreds of communities across the U.S. for public drinking water systems, water reuse projects, and a variety of commercial and industrial applications.

 

About DCM:

DCM is an early stage venture capital firm supporting entrepreneurs building world-class technology companies.  The firm's partners manage US$1.6 billion and have funded leading technology companies including 2Wire, 51job (Nasdaq: JOBS), @Motion (Openwave), About.com (The New York Times Co.), All About (Jasdaq: 2454), Arroyo (Cisco), Clearwire (Nasdaq: CLWR), Dang Dang, eDreams (TA), Foundry Networks (Nasdaq: FDRY), HireRight (Nasdaq: HIRE), Internap (Nasdaq: INAP), IPivot (Intel), JCI (Nasdaq Japan – Hercules: 9424), Neopath Networks (Cisco), Neutral Tandem (Nasdaq: TNDM), nQuire (Siebel), PGP Corporation, Recourse Technologies (Symantec), RockYou, Sigmatel (Nasdaq: SGTL), SMIC (NYSE: SMI), Sling Media (EchoStar), VanceInfo (NYSE: VIT) and Vimicro (Nasdaq: VIMC).  DCM offers hands-on operational guidance and access to an extensive network of resources, including close relationships with many of the Pacific Rim's leading companies and investors.  For more information, please visit DCM's website at www.dcm.com.

 

About Sierra Ventures:

Sierra Ventures (www.sierraventures.com) is a privately held venture capital firm focused on investments in Information Technology companies. Sierra has strong operational expertise and works closely with its portfolio company management teams to build them into large, profitable businesses.  It manages nine venture capital partnerships with $1.5 billion in capital under management.  Current investments include companies based in the U.S., Canada, China, and India.

 

About Flywheel Ventures:

Flywheel Ventures (www.flywheelventures.com)  is a venture capital firm that empowers entrepreneurs to build globally-competitive businesses based on innovations in information technology and the physical Sciences. Flywheel typically makes the first institutional investments in companies with origins in the Mountain West region of the United States. The firm matches talented entrepreneurs and market opportunities with Flywheel's capital, entrepreneurial experience, and industry relationships to accelerate innovations into profitable companies. Flywheel is based in Santa Fe and also has offices in Albuquerque and San Francisco.