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InfoTiles raises funding to further reduce water leakage and improve wastewater management
Stavanger, Norway May 23, 2023
InfoTiles, a leading innovator in digital water & wastewater management, today announced a milestone in its growth journey with an investment led by Dutch based venture capital fund 4impact capital, joined by existing Norwegian investors ProVenture and industrial-utility company Lyse. This will position InfoTiles to further enhance its groundbreaking software technology and expand its market presence locally and internationally.
Water scarcity, stress, and pollution present ongoing global challenges that are poised to intensify with rising demand and the impacts of climate change on water cycles; global demand for fresh water will outstrip supply by 40% by 2030 (UN Water Commission). With dependence on legacy infrastructure and hardware, the water industry has material room to improve to manage for current and future needs; In Europe, 25% of drinking water is lost, with some countries losing more than 40% of their drinking water before it reaches consumers. InfoTiles’ digital water solution offers a clear avenue to tackle these challenges in a cost-effective manner, enabling utilities to increase data quality by 30-50%, provide 25-40% OPEX savings in wastewater treatment, and reduce breakdowns and downtime by 70% and 40% respectively.
“The globe is facing a tremendous water crisis that requires immediate attention. At InfoTiles we are committed to put our efforts in being a positive impact and get the most out of the world’s most precious resource. By getting 4impact capital onboard we can accelerate our journey on getting the real value of water. This funding round is a strong push for the team and to waterpreneurs out there. ” - Johnny Alexander Gunneng, CEO of InfoTiles
The global digital water solutions market currently stands at US$33bn and is expected to grow to US$119bn by 2028, benefiting from regulatory tailwinds implemented by the EU Green Deal and the Urban Wastewater Treatment Directive. Embracing digital water solutions like InfoTiles will enable us to optimize water management, enhance resource allocation, and mitigate the impacts of water-related crises.
“InfoTiles’ advanced analytics and insights are in a class of their own. We have been thoroughly impressed by the team’s deep knowledge in hydrology and analytics and how they drive drinking water savings and prevent wastewater problems. We are very excited to partner with InfoTiles as they revolutionize the water management industry, and make cities and utilities more effective and sustainable by giving them insights leading to better actions and more effective water use.” - Ali Najafbagy, Founding & Managing Partner of 4impact capital
"At ProVenture, we are thrilled to welcome 4impact into our collaborative partnership with InfoTiles, a trailblazer in the digital water industry. This strategic alliance, rooted in our mutual commitment to sustainability and technological innovation, serves as a significant endorsement of InfoTiles' important work in harnessing digital solutions for water management," says Borgar Ljosland, Senior Partner at ProVenture. "Together with Lyse Vekst, our continued investment in InfoTiles encapsulates our shared vision for a sustainable future, where digital water plays a pivotal role. This partnership illustrates how dedicated we are to promoting a world where technology and sustainability coexist to foster the conservation of our most precious resource - water.”
About InfoTiles
InfoTiles has its origin in between the fjords of Norway but extends far beyond Scandinavia.
InfoTiles’ innovative digital analytics platform spans the water value chain, simplifying and automating the tedious steps of consolidating data and applying real-time analytics and machine learning for water management. With InfoTiles, utility companies can discover new insights and make sustainable decisions based on facts, leading to sustainable water use in communities.
For more information:
https://www.lysekonsern.no/lyse-vekst/