Based in Malmö, Orbital Systems, the world’s leading innovator in smart water technology for households, recently raised over €20 Million (USD 23M) through new and existing investors. New investors include Nordic’s leading real estate companies among them K2A, M2 Asset Management AB, Stena AB, Polar Growth AB (part of Polar Structure AB), and Vatio AB while among existing investors participating include famous names such as Niklas Zennström, Peter Carlsson, C. Ehrnrooth Family Office.
The funds are reported to be used to expand the business and product portfolio. In addition, the company aims to be the only company on the market to offer technology solutions that significantly reduce water and energy consumption without compromising user comfort.
“With increasing water shortages globally and rising energy prices, there is an obvious momentum for Orbital and our solutions to save water and energy without compromising on comfort. This investment gives us the opportunity to scale up commercially and increase the pace of getting the world to use water smarter.” – says Mehrdad Mahdjoubi, founder and CEO, Orbital Systems, to tech.eu
The company was founded by Mehrdad Mahdjoubi in 2012, as result of a project between NASA and Lund University. The startup has succeeded in developing an Orbital shower system that reduces water waste, is cost-effective, and is easy for consumers to use.