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Benzinga

Business

Akanksha Bakshi

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

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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