Oneka Raises $12.5M

Oneka Raises $12.5M

Invest Nova Scotia and the province’s Wilson Family both backed the Que.-based maker of water treatment buoys.

Sherbrooke, Que.-based Oneka Technologies has closed the $12.5 million first tranche of its Series A funding round, which included Invest Nova Scotia and was led by British Columbia’s Hoffecker family, with plans to raise up to another $10 million.

Oneka is developing seawater desalination buoys powered by wave energy in an effort to address the high energy requirements of conventional systems. Matthias and Ira Hoffecker, meanwhile, are impact investors who made their money from a major film distribution business in Germany, before moving to Canada in 2004. Matthias Hoffecker also has expertise in marketing and has previously run clean energy-related businesses.

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