At the beginning of the Chinese New Year in 2021, General Water, a company committed to improving water quality for consumers around the world with water technology innovation, closed its Series A round of tens of millions of dollars led by Gaocheng Capital. Money raised in this deal will be used for R&D as well as for the company’s efforts in growing a stronger foothold in the commercial water purification space so as to fast-track its growth.
General Water’s commercial business was officially launched in 2019, and now its solutions can be found in almost 10,000 organizations and places in the sectors of education, real estate, corporate business, health care, and finance, including Shanghai First Maternity and Infant Hospital, BFC Credit Management Center, China Media Group, OneSmart International Education Group, Sephora, Bank of Communications, Polygon Instrument, Chengdu Education Investment Group, Chengdu CDC, General Hospital of Armed Police, Zhangjiang Group, China Telecom, and Longfor Group.
Gaocheng Capital is one of the few private equity funds in China that focuses on technology innovation and enterprise services, and its portfolio of innovative enterprise services include industry leaders such as Youzan, Ming Yuan Cloud, Tuya, Yitu, Bairong, Huisuanzhang.com, UMU and Oray. Behind Gaocheng Capital’s long-term, reciprocal relationships of trust with those high achievers are its in-depth, independent industry research, expertise and extensive connections. It understands the real needs of clients in various industries and keeps its finger on the pulse of those industries and technological innovation, thus helping entrepreneurs seize the opportunities to make breakthroughs in technology and application, define and unleash new demand with new supply of solutions, and create long-lasting value for their clients and the society as a whole.
Mr.Tie Wang, Founder and Chairman of General Water, said, “Backed by strategic shareholders like General Electric (NYSE: GE) and Gaocheng Capital, General Water, after the close of the Series A round, will step up its R&D, service planning and investment in technological innovation in the commercial water purification space. It will uphold the innovation legacy of GE’s founder Thomas Edison, and stay devoted to transforming the traditional water industry with innovative water technologies to make healthy water available everywhere.”
Jing Hong, the founding partner of Gaocheng Capital which is the lead investor of this round, said, “As an investment fund focusing on enterprise services, business service is also a sector that’s always on Gaocheng’s radar. We are bullish about the business traits of the commercial water purification space, such as high customer stickiness, subscription-based model, stable cash flow and significant economies of scale. But more importantly, the founder of General Water, Mr. Tie Wang, who was the former president of Ecolab’s Greater China business, has extensive industry experience and a global vision. Gaocheng Capital is willing to continue its support for the best-in-class entrepreneurs in the space of enterprise services and to catapult General Water to a long-term growth trajectory in the domestic and international markets.”
About General Water
General Water Technologies (Shanghai) Co., Ltd. (referred to as “General Water “), guided by its core philosophy of “G+ water technology, a healthy new world of cleanliness”, is committed to providing water purification solutions for households and commercial use with innovative water technologies. It aims to bring global consumers with safe and healthy water while creating unlimited possibilities for growth.
From every drop of water used by millions of families, to healthy drinking water in public spaces of urban areas, to green initiatives of reducing the use of disposable plastic bottles, the mission of providing healthy water solutions and the philosophy of green development have been embedded in General Water’s corporate spirit. It aspires to make healthy water available everywhere.
