Oasys closes $10 million financing

Oasys Water Inc., a Cambridge firm focused on water treatment technology, announced the close of a $10 million Series A round of financing.

"Lead investors included Massachusetts based Flagship Ventures and Advanced Technology Ventures (ATV), as well as Silicon Valley firm Draper Fisher Jurvetson (DFJ)," Oasys said in a press release.

The company said that it plans to use the funds "for the development of its commercial platform aimed at reducing the need for large amounts of costly electricity for producing clean drinking water from seawater and other non-potable water and wastewater sources."

Oasys added that its technology was developed at Yale University in the environmental engineering program under the stewardship of department chair Menachem Elimelech and founding inventor Rob McGinnis.

Oasys said it was formed with seed investment from GreatPoint Ventures, a firm with offices in Cambridge.

To read the Oasys press release, please click here.
(By Chris Reidy, Globe staff)