Toronto Cleantech Startup Xatoms Raises $3 Million for Water Purification Technology
Toronto-based cleantech startup Xatoms has secured $3 million in seed funding to commercialize its innovative water purification technology. The process, which combines quantum chemistry and artificial intelligence (AI), identifies photocatalysts that react with light to purify contaminated water.
The funding round, led by Quantacet, includes $2 million in equity and $1 million in non-dilutive grants from various investors, including Genesis Ventures and BDC Thrive Lab. Xatoms plans to use this investment to launch its technology for both industrial and consumer use.
CEO Diana Virgovicova, inspired by her experience on a backpacking trip to Mumbai, founded Xatoms to address the global issue of water contamination. The company’s technology involves using quantum chemistry to identify photocatalysts and AI to accelerate the discovery process. These photocatalysts are then turned into a powder that can be used to coat filters or directly added to contaminated water to eliminate harmful substances.
“Just as drug companies discover drugs for different diseases, we want to discover different photocatalysts for contaminants in water,” Virgovicova explained. The startup has already patented eight different materials and is running three pilot projects in Texas, Kenya, and South Africa.
Xatoms’ technology has the potential to address significant water contamination issues, including the ongoing problem of boil-water advisories in Canadian Indigenous communities. The company is exploring partnerships with First Nations in Northern Ontario to leverage its technology.
The investment decision was supported by Xatoms’ potential to diversify beyond water purification into areas such as green hydrogen production and self-cleaning surfaces. Quantacet partner Chloé Archambault noted that while water purification is a clear market for the next few years, Xatoms has huge potential to expand into other markets.
Despite the challenges of raising funds for deep tech, with over 400 pitch meetings, Xatoms successfully secured its first venture round. The team, comprising young but experienced professionals, includes five recently hired PhD-trained scientists, with eight out of 11 team members being women, reflecting Virgovicova’s original goal to raise awareness about water issues affecting women globally.
