The groundbreaking, real-time testing technology can detect even trace molecules; ensuring immediate corrective action
SINGAPORE, 7 AUGUST, 2024 – Aprisium, a pioneer in advanced contaminant detection and monitoring solutions, today announced the successful completion of its oversubscribed US$7 million Series A funding round. The round was led by Deep-Tech Venture Partners and Cocoon Capital, with significant participation from Woh Hup and Solisa Peppercorn.
Contaminant detection in liquids, solids, and semi-solids remains a critical issue worldwide. Traditional laboratory testing methods typically take 5-15 days to deliver results, which often translate into operational delays, hinder timely decision-making and increase risk exposure. This inefficiency leads to substantial costs for industries, impacting healthcare, productivity, and, not the least, the environment.
Moreover, regulatory bodies are enforcing stringent penalties on companies responsible for contaminant releases, with fines reaching up to tens of thousands of dollars daily. In the United States, the projected cost to tackle PFAS contamination is estimated to exceed USD 11 billion in the coming years.
Aprisium was founded by serial entrepreneurs Raghav Narayan and Dr. Lars-Henrik Skjolding during the 2022 cohort of the Singapore Deep-Tech Alliance venture building program as a spinoff from the Agency for Science, Technology and Research (A*STAR). The company offers a suite of innovative solutions with on-site, real-time testing capabilities, enabling continuous and accurate detection of a wide range of contaminants, including heavy metals, inorganic compounds, and organic chemicals like PFAS. Aprisium has the ability to rapidly profile virtually any novel contaminant in the target medium, including fuels and engineered fluids.
Aprisium has deployed its analyzers in Singapore, the Philippines, and Australia, enhancing contaminant detection. Aprisium empowers companies to prevent environmental hazards, optimize treatment levels, and ensure compliance—all while enhancing operational efficiency and bolstering the bottom line. Clients have reported a 40% reduction in decision-making time due to real-time data availability and AI-driven analytics. Additionally, companies using Aprisium’s solutions have experienced up to 30% savings in operational costs related to contaminant management and compliance.
Aprisium has signed contracts with global companies across multiple industries including water utilities, water treatment companies, data centres, cooling towers, mining, and shipping to ensure safety and environmental policy compliance. The funds from the Series A round will be used to further accelerate Aprisium’s expansion into Europe, the United States, and across Southeast Asia.
The global environmental monitoring market, which includes water, air, and soil monitoring, is projected to reach US$25 billion by 2025, driven by increasing environmental regulations and the need for comprehensive contaminant management. The industrial water treatment market alone is expected to surpass US$18 billion by 2027. With its cutting-edge technology and comprehensive solutions, Aprisium is well-positioned to capture significant market share in these growing industries.
“We are thrilled by the overwhelming support from esteemed investors, which underscores the transformative impact of our deep-tech solutions in contaminant monitoring. This funding will accelerate our growth, expand our reach, and enhance our ability to deliver unparalleled solutions across Asia, Europe, and the US. With our innovative technology, we are driving a new era of sustainability, enabling our customers to achieve unprecedented levels of efficiency and profitability. Together with our dedicated team, we are not just imagining a better future; we are creating it,” said Raghav Narayan, CEO and Co-founder of Aprisium.
“We are thrilled to support the next phase of Aprisium’s growth,” said Nicolas Tabardel from Deep-Tech Venture Partners. “Aprisium’s journey began with the world-class research from A*STAR, and the Singapore Deep-Tech Alliance effectively bridged this innovation with commercial expertise. The early backing from Cocoon Capital was instrumental in achieving product-market fit. With this Series A funding, Aprisium is poised to expand globally and lead the market in real-time contaminant detection, driving significant environmental benefits for industries worldwide.”“Aprisium has achieved stellar performance at a remarkable pace since Cocoon Capital’s seed investment. The products and technologies developed by Aprisium will have positive real-world impact and will also enable many critical verticals globally,” said Carol Cheung from Cocoon Capital. “Aprisium’s products will be extremely beneficial for global high tech industries such as data centers and HPC, concurrently it will improve sustainability in more traditional industries such as mining and shipping. Aprisium’s offerings will help to unlock the future of responsible energy consumption across the globe, and I am tremendously excited to help them achieve these goals”.
