Aqva.io raised EUR 200k in a round led by Excedea.

Aqva.io, a Pori, Finland-based manufacturer of an IoT solution for water monitoring, announced closing a EUR 200k ($233k) capital investment round.

The backers were led by Estonian consultants from Excedea, which will help the Aqva team with both sharpening the growth strategy, finding international clients and securing a round of public funding.

Aqva.io, founded in 2017 by Ville Strandman and Jarkko Mäkivaara, develops and manufactures a readable device for reading water data that utilizes software automation and machine vision. The company works with real estate owners, for which it provides a service called Leaklook.io, a high-precision, remote-controlled IoT meter that can be installed on any water meter with the purpose to alarm the owner remotely if a water leak is suspected.