Digital water technology company InfoTiles is enhancing its software technology following investment from Netherlands-based venture capital fund 4impact.
In collaboration with existing Norwegian investors, ProVenture and industrial-utility company Lyse Vekst, 4impact’s investment supports the development of the InfoTiles software, while supporting growth of InfoTiles’ business operation in international markets.
InfoTiles software enables the optimisation of water and wastewater management by water utilities. It can enhance the allocation, reduce leakage, and mitigating the impacts of water-related crises like flooding and scarcity. The digital analytics platform spans the water value chain, simplifying and automating the steps of consolidating data by applying real-time analytics and machine learning.
Water insecurity presents ongoing global challenges that are predicted to intensify with increased water demand and the impacts of a changing climate on water-cycles. According to UN Water Commission, global demand for fresh water will outstrip supply by 40% by 2030.
With dependence on ageing infrastructure and equipment, the water industry has the capacity to improve water management for current and future needs.
“The world is facing a water crisis that requires immediate attention. InfoTiles is committed to the goal of having a positive impact to ensure a sustainable water future for all through enhancing the use of digital technologies,” said Johnny Gunneng, CEO of InfoTiles.
“By getting 4impact capital onboard we can accelerate our journey of getting the real value from water. This funding round is a positive indication of investor appetite for all water entrepreneurs.”
In Europe, 25% of drinking water is lost through leakage, with some countries losing more than 40% of their drinking water before it reaches consumers. A revised EU drinking water directive states now leakage must be assessed and reduced if levels are above a certain threshold.
InfoTiles digital water solution offers a way to tackle these challenges in a cost-effective manner, enabling utilities to increase data quality by 30-50%, provide 25-40% operational expenditure savings in wastewater treatment, reduce breakdowns by 70% and downtime of infrastructure by 40%.
Ali Najafbagy, founding and managing partner of 4impact, said, “4impact is excited to partner with InfoTiles as they revolutionise the water management industry and make cities and utilities more sustainable by providing insights leading to better actions and more effective water use.”
Borgar Ljosland, senior partner at ProVenture, said, “This strategic alliance, rooted in mutual commitment to sustainability and technological innovation, serves as a endorsement of InfoTiles’ work in harnessing digital solutions for water management.”
The value of the global digital water solutions market currently stands at US$33bn and is expected to grow to $119bn by 2028, benefiting from the EU Green Deal and the Urban Wastewater Treatment Directive regulatory frameworks.