Orbital Systems raises £15 million in Series B funding for a shower system
Orbital System, a Malmö, Sweden cleantech startup developing an innovative solution that saves water and energy, has announced raising £15 million ($18.7M) in series B funding. The backers include existing investor Niklas Zennström, as well as local Swedish investors such as Karl-Johan Persson, Jochnick family foundation (founding family of Oriflame), Stena Ventures, and Nils Idoff.
Orbital System, founded in 2012 by Mehrdad Mahdjoubi, has developed a shower system allowing up to 90% water savings and 80% energy savings while increasing comfort and hygiene.
Prior to this investment, the company has raised about $10M from external investors and received a SEK 20M ($2.3M) grant from the Swedish government.