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Benzinga
Benzinga
Business
Akanksha Bakshi

Xylem Invests $20M In Venture Capital Funds To Support Water Technology Development

XYL Xylem NYSE
  • Water technology company Xylem Inc (NYSE:XYL) has made investments in venture capital funds Burnt Island Ventures and The Westly Group's Funds III and IV, supporting the development of water and industrial technologies.
  • The company noted the combined $20 million investment in both funds is an important component of its external innovation program, Xylem Innovation Labs.
  • Xylem's position in Burnt Island Ventures, focused on supporting early-stage water innovation, is complemented by Westly Group's emphasis on energy, industry 4.0, and cybersecurity.
  • Price Action: XYL shares are trading higher by 0.79% at $86.47 on the last check Tuesday.
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