Altered raised $1.8M from Almi and Swedish investors.

Altered, a Stockholm, Sweden-based manufacturer of a smart water nozzle, secured SEK 16.3M ($1.8M) in capital investment.

The backing was provided by investors including Almi Invest  and angels Viktor Tell and Fredrik Österberg (through his investment company Fros Ventures). Money will be used to finance the growth of the company.

Altered, founded in 2914 by Johan Nihlén (CEO), Mikael Abbhagen and Kaj Mickos, invented a water nozzle that that can be installed to any tap source in order to save water. The company expects SEK 8M ($900k) in sales this year and 5 times increase over the next 12 months.