What is SOURCE?
Founded in 2014 and headquartered in Scottsdale, Arizona, SOURCE has developed a unique renewable drinking water system. This technology harnesses solar power to extract clean, reliable drinking water directly from the air, offering a sustainable alternative to traditional water sources. The company's innovative approach positions it at the forefront of addressing global water challenges through advanced, eco-friendly solutions. The substantial capital infusion indicates a move towards scaling operations and expanding market reach for its proprietary technology.
How much funding has SOURCE raised?
SOURCE has raised a total of $130M across 1 funding round:
Series D
$130M
Series D (2022): $130M with participation from The Drawdown Fund, Fifth Wall, Breakthrough Energy Ventures, BlackRock, and Wind Ventures
Key Investors in SOURCE
The Drawdown Fund
The Drawdown Fund is a venture capital firm focused on growth-stage businesses that combat climate change, investing in companies with innovative sustainability solutions.
Fifth Wall
Fifth Wall is a prominent venture capital firm specializing in proptech, connecting real estate industry leaders with technology innovators to redefine the built environment.
Breakthrough Energy Ventures
Breakthrough Energy Ventures is a global investment firm backed by business leaders, dedicated to funding cutting-edge companies that drive the transition to net-zero emissions.
What's next for SOURCE?
The recent major strategic investment suggests SOURCE is poised for significant expansion and further technological development. This capital infusion will likely fuel initiatives aimed at increasing production capacity, enhancing distribution networks, and potentially exploring new market applications for its water generation technology. As the company progresses through its growth phase, strategic partnerships and continued innovation will be critical in solidifying its leadership in the sustainable water solutions sector. The company's focus on renewable energy and water extraction positions it favorably within the growing cleantech market.
See full SOURCE company page
