Wisewell, a sustainability-driven consumer water technology company developing high quality, easily accessible drinking water solutions, has close its $2 million pre-seed funding round, bringing total funding to $2.6 million to date.
The round was led by BECO Capital, the MENA region’s leading early-stage venture capital fund that backs early-stage tech entrepreneurs across a wide range of sectors. BECO Capital backs tech firms that tackle white spaces by building robust technology and driving the evolution of the ecosystem in the MENA region.
To date, BECO has invested in more than 30 startups, including all three of the MENA region’s unicorns.
Wisewell is led by Dubai-based co-founders Sami Khoreibi and Sebastien Wakim, whose combined expertise in sustainability and technology, respectively, led to a mutual interest in solving the global issue of water safety.
The new funding helps position Wisewell as a leader in the sustainable technology industry, ahead of the launch of its first product in April 2022.
“The way we deliver and drink water is broken,” said co-founder and executive chairman, Sami Khoreibi.
“Wisewell enters the market during a time when the region is placing an emphasis on sustainability, including through Dubai Can and Abu Dhabi’s single-use plastic bag ban. We’re revolutionising water consumption through complete transparency, sustainability, and convenience housed in a beautifully designed product.
Khoreibi added: “We’re grateful to be working with investors who believe that the sustainable solution to healthy, great-tasting water lies within Wisewell.”
Wisewell changes the game for consumers seeking the highest quality purified drinking water with its installation-free machine – just plug it in and fill the tank with tap water.
Its proprietary full spectrum filtration technology efficiently removes harmful chemicals, microplastics, and other contaminants using three filters and UV light – whereas most traditional filtration systems use one filter and omit the UV light sterilisation process.
The process concludes with remineralisation of the water to create a taste that rivals top bottled water brands and boosts its overall hydration, at a fraction of the price per litre.
Wisewell is the only reverse osmosis filtration system that offers an app where consumers can monitor the quality of their tap water via sensors in the filters, as well as how hard its filters are working to clean and when they need to be reordered.
The app tracks consumers’ cost savings against leading bottled water brands and consumers’ improved carbon footprint from not purchasing bottled water.
Wisewell dispenses hot, cold, and room-temperature water, unlike many of its reverse osmosis competitors.
“Wisewell is the water purification technology of the future,” said Sebastien Wakim, the Wisewell co-founder and CEO.
“It’s a convenient, luxurious unit that consumers will be comfortable displaying in any room in the home, and it’s run by an app that shows full transparency of the water you’re drinking. The Wisewell’s installation-free ease of use and low maintenance is something the market has yet to see.”
The closing of this funding round strengthens Wisewell to be a top competitor in the water technology and sustainability industry.
The global market for water purifiers promises excellent growth opportunities as it is expected to increase from $52.4 billion in 2020 to $90.1 billion by 2025 with a compound annual growth rate (CAGR) of 11.5 percent for the period of 2020-2025.
Beyond plastic waste, bottled water is the main leading cause of microplastics found in human bodies, proving to be unsustainable for our health and planet.
Wisewell offers a more cost-effective, sustainable, and convenient solution than both bottled water and traditional reverse osmosis filtration systems.
“We decided to invest in Wisewell because it’s disrupting the water space with technology,” said Yousef Hammad of BECO Capital.
“We invest in entrepreneurs innovating for the future. Sami and Sebastien’s previous successful track records in the sustainability and circular economy sectors make them the right founders to bring this extraordinary product to life at a moment when the world needs it most.”
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