i2O Water secures £8m funds for research and development

UK-based Smart Water Networks technology provider i2O Water has secured funding of £8m from its investors Naxos Capital Partners, Nemadi Advisers and Ombu Group to support its expansion.

The additional funds will help the company in its research and development (R&D) activities in Southampton, UK.

i2O will also use the capital to strengthen commercial and technical support for its expanding global network of partners and resellers.

The new investments take the firm’s entire seed and venture capital funding to £31m.

i2O Water chairman Stephen Bold said: "i2O’s technology provides water companies with a full range of tools to improve their business performance.

"We are delighted to announce this funding round, which enables us to respond to more of our customers’ needs and help them address the urgent challenges of supply resilience and water scarcity.

"I look forward to helping i2O further develop its portfolio of industry-leading solutions and expand the company’s global reach."

Smart Pressure Management technology by i2O water is used by water companies for optimisation of their water distribution networks.

i2O’s patent technology is used by 66 firms and utilities worldwide, resulting in a daily saving of approximately 235 million litres of water, the company claimed.