San Sebastián, Spain-based Cimico, a biotechnological wastewater treatment solution for both urban and industrial environments, announced on Tuesday, July 18, that it has secured €7M in its second round of financing.
Cimico is Loizaga’s 16th investment, in addition to his second investment together with the Basque manager INBERGUNE CAPITAL PARTNERS. As a result, they now own 30 per cent of the company’s stock.
Cimico says it will use the funds for national and international expansion.
The firm will continue to spend in R&D to be at the forefront of the creation of innovations in biotechnology and for the industrial scaling of five new technologies that are emerging or will develop in actual wastewater over the next few years.
The company says, “We also anticipate the incorporation of new professionals who will strengthen the acting team and allow us to complement it. In addition, we will promote both the national and international commercial structure in order to reach new customers and potential markets.”
Cimico wants to become a global leader in new technology solutions for biological wastewater treatment in both urban and industrial settings.
Biotechnologies for wastewater treatment
Founded in 2019, Cimico offers biotechnologies for wastewater treatment.
The company aims to transfer its technological team’s knowledge to plants executed in the real world, delivering solutions with efficient and optimum behaviour to care for one of our planet’s most valuable resources, water.
Currently, Cimico’s solutions are focused on mobile bed biotechnologies, both for the urban and industrial environments, due to the company’s mobile bed, MOBED, invented by Dr Luis Larrea.
Furthermore, Cimico has also developed its Filmath mathematical modelling technology, which allows it to do calculations that are extremely near to reality.