GI Water as a Service Secures $1 Billion Valuation in Series A Funding.
Published on Jan 30, 2025
GI Water as a Service Secures $1 Billion Valuation in Series A Funding, Becoming the First Unicorn in the Water Sector in the MENA Region
RIYADH, SAUDI ARABIA – January 30, 2025 – GI Water as a Service, a groundbreaking subsidiary of GI Aqua Tech, today announced a significant milestone: achieving a $1 billion valuation following its Series A funding round. The investment reflects the company’s innovative approach to decentralized wastewater management and its growing impact on global water sustainability.
GI Water as a Service is disrupting the water sector with its pioneering pay-per-cubic-meter financial model, offering advanced, decentralized wastewater treatment solutions tailored to industries and communities worldwide. Its cutting-edge, scalable solutions have firmly established it as a category-defining startup, making it the first unicorn in the water services industry in the MENA region.
“This milestone underscores the trust placed in GI Water as a Service by investors, partners, and clients who recognize our role in addressing some of the world’s most pressing water challenges,” said Dr. Sherif Desouky, Founder and President of GI Aqua Tech. “This investment will empower us to expand our operations across Saudi Arabia, develop new solutions, and further innovate in wastewater management to meet the diverse needs of various sectors and communities.”
The Series A funding round saw participation from prominent investors, including Al Zamil Industrial Trade and Transport, who remarked: “GI Water as a Service represents a bold leap forward in water management, delivering innovative solutions that support the goals of Saudi Vision 2030. This company is uniquely positioned to provide exceptional services to decentralized areas within Saudi Arabia and contribute to the success of the Kingdom’s mega-projects, which strive to achieve the highest environmental standards.
Alqunaibet Investment Fund also contributed to the round, stating: “Investing in GI Water as a Service aligns with our belief in supporting visionary startups that address critical challenges with ingenuity and impact. The company’s unique approach to wastewater reuse has the potential to transform industries and communities alike.”
GI Water as a Service plans to leverage the Series A funding to expand into new markets, accelerate R&D efforts, and advance its mission of helping industries and communities achieve zero waste and 100% wastewater reuse. The company’s solutions target diverse sectors, including domestic, slaughterhouse, poultry, petroleum, and others, with a focus on scalability and accessibility.
The achievement reflects the invaluable support of the Saudi Ministry of Investment, The Saudi Water Authority, and the National Center for Waste Management, whose leadership and vision have fostered a thriving ecosystem for innovative startups in the water sector. Their commitment to sustainability and forward-thinking policies have enabled companies like GI Water as a Service to flourish and deliver impactful solutions to the region and beyond.
With a strong leadership team and proven technologies like the award-winning G-Nano, GI Water as a Service is poised to revolutionize how industries and communities manage water, setting a new benchmark for sustainability in the sector.
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