20 May 2015: ORBITAL SYSTEMS, a Swedish clean tech start-up that designs the world’s most efficient shower system and has helped to save 1 million litres of water since it launched commercially just six months ago, has closed a $5m Series A funding round that includes additional investment from Skype founder Niklas Zennström and new funding from US-based entrepreneur and VC David Epstein.
Other new investors include: the af Jochnick family; Peter Enberg, entrepreneur and business angel; Rosengård Invest AB, a VC fund led by Ljubo Mrnjavac; Dendera Ventures AB, a VC fund led by Thomas Wiklund; and Mårten Öbrink, former entrepreneur and business angel – all based in Sweden.
The combination of Swedish VC funds and US strategic investment supports ORBITAL SYSTEMS’ goal of transitioning from a technology-oriented startup to a market-oriented company. ORBITAL SYSTEMS will target strategic markets such as California where water scarcity is an ongoing challenge, and continue with its R&D programme to enhance user experience.
ORBITAL SYSTEMS is an award-winning cleantech startup led by founder and CEO Mehrdad Mahdjoubi, and set up in Malmö, Sweden. The company has developed the world's most efficient shower system, “Shower of the Future”, allowing up to 90% water savings and 80% energy savings while at the same time increasing comfort and hygiene. Its showers have already saved 1 million litres of water since the end of 2014. The company hopes this latest injection of funding will help it to save 1 billion litres of water by the end of next year.
Mehrdad Mahdjoubi, founder of ORBITAL SYSTEMS said:
“We’re confident that with the support of such reputable and experienced investors, we can fulfill the next phase of our plan to grow the business beyond Sweden and into markets where water is more scarce.
“We want to help create a more sustainable future. Our product has been trialled, sold and installed in a variety of Swedish facilities, now we are poised to expand and meet our goal of helping people all over the world save energy and water.”
Inspired by an academic cooperation project with NASA, the company was launched under the mentorship of Skype co-founder Niklas Zennström.
ORBITAL SYSTEMS already has showers installed in a wide range of places including several publicly owned facilities in Sweden, Sweden’s largest construction company, the Swedish Armed Forces, a refugee centre, a football stadium, a luxury hotel and several sports and aquatics centres.
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