Atlantium raising $4-5m in first financing round

Israeli fund Pitango Venture Capital and US fund VantagePoint Venture Partners invested, together with previous investors.

Israeli start-up Altantium Lasers is on the verge of raising $4-5 million in its first financing round. Pitango Venture Capital led the round, and US fund VantagePoint Venture Partners invested, together with Aurum-SBC Ventures, controlled by Morris Kahn, and private investors who invested in Atlantium’s seed round.

Founded in 2003, Atlantium is development a high-tech system for handling toxic materials in water and air. Atlantium’s products focus on purifying water and other liquids from biological and organic pollutants and toxic waste, in order to make the liquids safe for drinking or industrial use.

Atlantium was founded following the purchase of the intellectual property of a company of the same name, founded in 1997, which ceased operating in late 2002. The original Atlantium Lasers developed water purification technology that used ultraviolet and laser rays.

Atlantium is Pitango’s first investment in environmental technology (CleanTech).

Atlantium CEO David Waxman declined to comment on the report.

Published by Globes [online] - www.globes.co.il - on October 27, 2005

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