Country HQ
Finland
Sector
Tech-Enabled Services
Fund
Norvestor VIII
Investment Date
Smartvatten is a first mover in remote water monitoring, offering proprietary software and Hardware-enabled SaaS to real estate owners and utilities. The company offers a solution to the mounting challenge of water waste, leakage, and sustainability reporting. With increasing regulatory pressure and customer demand for environmental accountability, Norvestor saw clear potential for Smartvatten to grow across Northern Europe.
Specialists in Water Efficiency
Smartvatten’s Hardware-enabled SaaS solutions help customers reduce their water consumption, costs and risks related to water leaks. Norvestor supported Smartvatten’s international expansion and product innovation, partnering with management to professionalise sales and operations. Smartvatten now has employees across the Nordics, Benelux, and Germany after completing three strategic acquisitions: Verto Nordic Oy (submetering), Neuroflux Oy (utility analytics) and LeakLook / Aqva.io Oy.
Innovation and Impact
Smartvatten combines AI-powered hardware with cloud analytics to detect water leaks and reduce waste in real time. Using optical recognition solutions and IoT2-enabled water meters, Smartvatten gathers proprietary water consumption data which is interpreted by algorithms to establish consumption patterns and detect leakage. Clients of Smartvatten are able to access water consumption reporting, with the platform monitoring over 250,000 apartments and offices, enabling water-saving initiatives and enabling greater ESG compliance.
Thanks to Norvestor’s support, Smartvatten has been given the muscles and roadmap to reach our ambitious growth goals. We have already completed two acquisitions which have brought us closer to our target, and it is exciting to know that this is just the beginning of the journey.
Sophia Pettersson, Head of Customer Success.
Business Outcomes
With Norvestor’s support, Smartvatten continues to grow its footprint, achieving strong traction with institutional clients. The company is fully aligned with the EU taxonomy and is pursuing ISO certifications to underpin its environmental leadership. As Smartvatten moves further into multi-property and utility markets, its strategy remains focused on expanding ARR, advancing its analytics platform, and cementing its position as Northern Europe’s water efficiency leader.
Learn more about our portfolio companies
Norvestor takes an active ownership approach, with its funds investing in companies where they obtain a significant strategic position. Value creation is driven through board-level engagement and close collaboration with management teams to support long-term growth and strategic development. Case examples presented illustrate how this approach has supported current and former portfolio companies on their growth journeys.