Malmö-based smart water solutions startup Orbital Systems has reported a impressive 94% increase in net revenue, reaching € 14 million (SEK 156 million) for 2023, as reported by Swedish Tech News. Despite a pre-tax loss of € 9 million (SEK 102 million), this marks an improvement from € 11 million (SEK 126 million) in 2022.
Founded in 2012 by Mehrdad Mahdjoubi through a project with NASA and Lund University, the company is known for its efficient shower system, the ‘Shower of the Future,’ which allows up to 90% water savings and 80% energy savings while at the same time increasing comfort and hygiene. Its showers have already saved one million litres of water since the funding. The startup has a global portfolio of more than 100 patents.
This growth reflects Orbital’s expanding global market reach and its mission to promote water and energy efficiency.
