Jan 26, 2022
ORBITAL has secured 23 million US dollars from leading real estate companies. Orbital has received a lot of attention for its first product - the world's first circular shower that enables significant savings of water and energy - and has increased its turnover by 100% for the third year in a row.
The investment will be used to increase the pace of commercial expansion and expand the product offering.
The investment will further establish Orbital as the only ones on the market that can offer reduced water and energy consumption without compromising on user comfort. The next Orbital product will be launched in 2022.
Among the new investors are leading players in the Nordic property industry, such as K2A, M2 Asset Management AB, Stena AB, Polar Growth AB (part of Polar StructureAB) and Vatio AB, while existing investors participating include Niklas Zennström (board member), Peter Carlsson (board member), Investment AB Öresund, Philian AB, Formica Ventures AB and C. Ehrnrooth Family Office.
- We are very happy that leading property owners and developers see such clear advantages with our technology, that they choose not only to buy our products but also invest in the company. With increasing water scarcity globally and energy prices soaring, there is clear momentum for Orbital and our solutions to save water and energy without compromising 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.
Half of the energy consumption in a normal household is used to heat water for showers and baths. In a traditional shower, the water is heated for a single use before being flushed down the drain. Orbital Shower is the world's first circular shower. It cleans and recirculates the water in real time with a more precise control of water pressure and temperature. This can save up to 90% of the water and up to 80% of the energy compared to a traditional shower. The Orbital Shower is a revolutionary solution available to customers already today and is the first product from Orbital Systems.