Sensmet raised €1.5 million in a round led by venture capital fund Nordic Option.

Sensmet, an Oulu, Finland-based company developing water monitoring technology, announced the completion of a €1.5 million ($1.8M) capital funding round.

The money was raised from investors from Finland led by Nordic Option, with participation from Innovestor.

Sensmet, founded in 2017 and led by CEO Toni Laurila, developed technology for real-time water analytics, which does fully automated and comprehensive water analytics.

The company's micro-plasma technology enables comprehensive and quantitative online water quality analysis in harsh industrial conditions used to help customers reduce the use of energy, chemicals and water in their production processes and increase water recycling rates without compromising the yield of production or the quality of products. Business cases include end-users in industries such as mining, steel manufacturing, oil&gas and pulp&paper as well as environmental monitoring service providers.

Sensment previously raised €700k in 2019.