Stockholm Water Technology to raise SEK 10 million from STOAF and SEA.

Stockholm Water Technology, a Stockholm, Sweden-based technology developer of smart, clean and sustainable water purification solutions primarily for industrial use, announced completing a SEK 10M ($1.2M) capital funding round.

The money was raised from private investors based in Stockholm STOAF III SciTech and SEA (Sustainable Energy Angels), joined by Almi Invest.

Proceeds will be used for go to market introduction and product development.

Stockholm Water Technology (SWT), founded in 2018 by CEO Karthik Laxman Kunjali, developed a water purification solution that enables sustainable, affordable and efficient water management. The patented solution requires lower energy compared to existing alternatives because it is independent of water temperature, has high water recovery and does not have a membrane, which requires more energy.

SWT is in various stages of testing and sales with about fifteen customers and has already sold some units. The company is now facing market introduction, where the focus will mainly be on water treatment in the industrial sector and in the real estate sector, in the third place municipalities.