3AWater raised equity financing of EUR 100k in a round led by Butterfly Ventures

3AWater, a Kuopio, Finland-based building technology helping reduce the risk of environmental damage in mining, announced that it secured equity financing of EUR 100k ($111k).

The money is part of a larger financing package including also grants provided by the Business Finland, the European Institute of Innovation and Technology (EIT) Raw Materials Community Business Accelerator. The equity round was led by Butterfly Ventures.

With funding, 3AWater plans to accelerate its product development; the aim is to launch the finished product in early 2021. The company has already piloted its technology both in Finland and abroad.

3AWater, founded in 2019 by CEO Tuomo Nissinen based on technology developed at the Department of Applied Physics, University of Eastern Finland, developed a portable measurement system (patent pending) that measures low metal levels from waters on-site in just few minutes.