Water Filtration Company in Midland Closes $4M Seed Funding Round

Accelerated Filtration Inc. (AFI) of Midland, a technology company that produces a first-of-its-kind industrial water filtration system, has closed a $4 million seed fund raise.

Michigan Capital Network of Grand Rapids and members of its five angel investing groups led this latest round of financing, with additional participation from Oxcart Equity Partners, Closed Loop Partners, Anthropocene Ventures, ID Ventures of Detroit, Red Cedar Ventures of East Lansin, and Northern Michigan Angels of Traverse City.

AFI will use the funding to double the production space at its Midland manufacturing facility and ramp up its global business development efforts.

The company delivers packaged turn-key filtration solutions for the consistent removal of fine suspended solids in variable water streams. The company's patented innovative technology offers fine particle filtration for large and small water processing challenges across a range of industries and applications.

"We’re grateful for the continued support and guidance provided by our investors as we approach the next phase of our business strategy," said Scott Burr, president and CEO of Accelerated Filtration.

"Over the past year, we have made tremendous strides in the development and production of our patented VelRay XTM filter. Its ability to economically filter out low and high levels of suspended solids sets it apart as an extended range, fully automatic, fine particle filter. Our investor's continued commitment has cleared the way for us to begin marketing the filter to customers worldwide."

While the primary function of the VelRay XTM technology is filtration of fine suspended solids from variable water streams, it also addresses growing global water challenges, enabling greater capability in processing source water, treating wastewater, and recycling and reusing process water. As global populations increase, both urban and industrial sectors will be competing for limited water resources.

This technology is engineered to help manage demand for water supplies for customers in a cost- effective manner. The first units of VelRay XTM filtration systems will be delivered to Australian and Canadian customers beginning in June 2023.

"AFI is an exciting company with strong IP in the water treatment space," says Paul D’Amato, CEO and managing director of MCN. "We are thrilled to support another advanced manufacturing company in Michigan. Particularly one that is addressing such an important societal need in the U.S. and overseas."

AFI was founded by Scott Burr and John Mallard in December 2020. The company previously secured $1.5 million in pre-seed funding in 2022. In the past year, AFI has been recognized as the innovator of the year by the Midland Business Alliance and received the Michigan Small Business Celebrates Award as a SmartZone best small business