Chalmers Ventures company Aqua Robur Technologies receives SEK 16 million
Aqua Robur has conducted a new share issue of SEK 16 million. The proceeds from the share issue will be used to finance Aqua Robur’s international growth initiative. The share issue is guaranteed by Chalmers Ventures together with Länsförsäkringar Göteborg & Bohuslän, GAEU Ventures, Almi Invest, and Latour Future Solutions.
This share issue marks Aqua Robur’s third financing round, with Chalmers Ventures being involved since its inception in 2018.
– The potential of Aqua Robur is enormous, both in terms of the global problem it addresses and the commercial potential of its solution, says Sara Wallin, CEO of Chalmers Ventures.
– The strong lineup of investors highlights the potential of the business. Reliable water management and water quality are increasingly important, which increases the demand for Aqua Robur’s solutions, says Björn Westman, Investment Director at Chalmers Ventures.
Making a significant impact
Currently, the company is in a growth-oriented phase. Aqua Robur already has approximately 60 out of the approximately 300 municipal water and wastewater companies (VA companies) in Sweden as customers.
– This is a perfect foundation to build upon. The customer need has been validated, we have a product that works in a scalable business model. Now we are expanding internationally, says CEO Niklas Wicén.
Initially, the focus is on several European countries and the Middle East, where the first installations will take place shortly.
– We make the most impact where water-related problems are as significant as possible. Climate change leads to increased water scarcity, and the energy costs to operate water networks are rising. This means that the need for monitoring the networks is increasing.
On average, 20 percent of all drinking water produced in Sweden is lost in the distribution networks. Internationally, that number ranges between 15 and 50 percent.
– Whether it’s Stockholm, Seoul, or Toronto, no one wants to waste our most essential resource. It allows us to target a truly global market. The growth also involves entering the district heating sector.
Enabling informed decisions for customers
Aqua Robur’s patented core technology involves measuring crucial parameters at different locations in the water distribution networks. The signals are wirelessly transmitted to a service where the customers, who are municipal water and wastewater companies, log in and receive visualized analyses and insights into what is happening in the networks. This data serves as a basis for taking the right actions.
– Our customers transition from being reactive when they notice water seeping from the ground to a digitized proactive approach, says Niklas Wicén.
A significant advantage, considering that the pipeline systems are often very long, is that Aqua Robur’s technology utilizes the flow of drinking water to power the sensors. This eliminates the need for fixed electrical installations or environmentally and labor-intensive battery replacements at the monitoring points.
VA companies also have networks for wastewater, stormwater, district heating, or district cooling. Aqua Robur also digitalizes these areas, where the customer’s function remains the same: easily visualized data that provides insights for decision-making.
– The market is currently experiencing rapid growth. Digitalization means making decisions based on data, not guesswork. Our monitoring solution meets a significant global need, says Niklas Wicén.
Niklas Wicén, Aqua Robur Technologies, +46 709 72 46 69
Sara Wallin, Chalmers Ventures, +46 706 37 43 00
Björn Westman, Chalmers Ventures, +46 70-640 90 96