(Left to Right: Prakash Govindan, Anurag Bajpayee, Govind Alagappan)
Our Next Era of Growth
As 2023 comes to a close, we at Gradiant reflect on a year marked by unprecedented achievements and milestones.
Our journey, deeply rooted in our mission to reduce, reclaim and renew water for the world’s leading industries, has left a lasting mark on global water. We’ve launched initiatives that didn’t just reach new heights – they redefined them.
Gradiant will conclude 2023 with over $200 million in sales and over $500 million in backlog of new contracts.
Embracing our True Brand
In April, we launched our true brand as a renewal of our original vision and purpose. This new visual identity reflects our evolution as a company – to underscore where Gradiant is today, and where we are heading. Water is our most precious resource, which is why we are singularly focused on solving the world’s most important water challenges. The true branding solidifies our mission to pioneer advanced solutions to reduce, reclaim, and renew water for the world’s leading industries. Gradiant plays a critical role in contributing to a future where water is used responsibly.
Water Technology’s First Unicorn
This year, Gradiant has significantly expanded its global presence. We have grown to operate from 20 offices worldwide, with a strong focus on Asia and the Middle East, while deepening our roots in the United States. Our growth trajectory has been remarkable, with over 100% year-over-year top-line growth for three straight years.
Our Series D financing in May was a game-changer – $225 million raised, pushing our total funding to-date past $400 million and establishing our valuation to $1 billion. Gradiant is water technology’s first and only unicorn – a signal to Gradiant’s differentiation and proven track record of rapidly inventing and commercializing water technologies to make real impact in the economic and environmental footprints of our industrial customers.
Strategic Acquisitions and Partnerships
A highlight of 2023 was our acquisition of H+E Group, an established European water solutions provider with over 100 years’ experience in semiconductors and advanced manufacturing. The acquisition underscores Gradiant’s commitment to delivering leading-edge solutions for the semiconductor industry and unlocks access to new technologies for end-users in the Europe market. Our new EMEA HQ and global innovation center in Abu Dhabi, in partnership with the Abu Dhabi Investment Office (ADIO), positions us at the forefront of sustainable water solutions in the rapidly growing and water scarce Middle East.
We also launched Turing, our digital and AI technology business, to deploy and scale AI/ML-driven solutions in the water industry. Named after AI pioneer Alan Turing, this new wholly owned subsidiary will drive substantial cost savings and sustainability across the entire water value chain.
Our acquisitions of Advanced Watertek and MPES bolster our capabilities in manufacturing and full-service water and wastewater treatment in the Middle East. These strategic moves, along with our relentless innovation and entrepreneurial spirit, underline our commitment to sustainability, end-to-end solutions, and technological advancement.
Recognition and Awards
Our efforts and achievements have not gone unnoticed. Gradiant was named “Desalination Company of the Year” at the 2023 Global Water Summit in Berlin. We were also featured in Forbes’ “America’s Best Startup Employers for 2023,” a testament to our reputation and employee satisfaction, and certified as a “Great Place to Work” where four out of five employees recommend Gradiant to their friends and family. Being named on Cleantech Group’s “2023 Global Cleantech 100” recognizes Gradiant as one of the most innovative and promising companies in the clean technology space.
As we close the year, we are filled with gratitude for our team’s hard work and our partners’ support. We remain committed to our mission of pioneering advanced solutions to reduce, reclaim, and renew water for the world’s leading industries. Our focus on sustainability, innovation, and global expansion continues to drive us forward.
We look to 2024 with optimism and resolve, eager to embrace new challenges and opportunities as we continue to make positive impact on the world’s water. We are proud of what we have achieved and excited about the future. Thank you for the unwavering support of our team, partners, friends, and family.
Anurag Bajpayee, CEO and Co-Founder – Boston
Prakash Govindan, COO and Co-Founder – Abu Dhabi
Govind Alagappan, President – Singapore