Oasys Water Raises $10M

Oasys Water, a Cambridge, MA-based startup, has wrapped up a $10 million financing led by venture firms Advanced Technology Ventures, Draper Fisher Jurvetson, and Flagship Ventures to develop its technology for converting salt water into potable drinking water, the Boston Globe reported over the weekend. Oasys tells the daily broadsheet that its forward osmosis technology, initially developed at Yale University, uses 90 percent less energy and costs about a third or half as much as current desalinization methods that rely on reverse osmosis. (Update at 9:30 am: Here’s a link to the official announcement released after this post was published.)

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