Press release: Aqvify raises seed investment to give people control over their drinking water wells
Tyresö November 17, 2021
Founders of Acast, Adlibris, Indoor Energy and Apotea invest in Swedish IoT invention Aqvify
STOCKHOLM – Aqvify (aqvify.com) is a Swedish start-up that gives its customers full control of water supply, water level, groundwater level, water consumption and water inflow in drinking water wells. The measurement data is presented in an easy-to-understand format via an app.
Aqvify – a patent-pending IoT solution created by inventor Rikard Tidala. The company has raised capital from, among others, the entrepreneurs behind Acast, Adlibris, and Apotea. The capital will be used to increase sales of the solution and further develop the product.
Aqvify’s smart solution gives users full control over how much water is in their drinking water wells and users do not have to worry about, for example, saltwater intrusion. Aqvify enables sustainable and safe water use for private individuals, communities and agriculture, but the data can also be used by companies and authorities.
This is how the Swedish IoT invention Aqvify works: A sensor is placed in the drinking water well and then continuously sends measurement data over the mobile network. Aqvify then processes the data and gives users an instant status of the well via the Aqvify app.
- “I am very pleased to have Magnus, Fabian, Måns and Mats as investors in Aqvify. Together they give us a broad experience of scaling up the business first in Sweden and then internationally. Now we have really hit the ground running,” says Rikard Tidala, founder.
- Aqvify solves a problem that almost all well owners struggle with; ‘Do I have enough water in my well? Simple, but ingenious. With climate change and declining groundwater levels, this is a timely product,” says Magnus Dimert, e-commerce entrepreneur.
- “I am very impressed with Aqvify. They have managed to produce a real quality product where they have put effort into all the details. High technical level combined with simplicity for the user makes it stand out. In addition, it solves a real problem that millions of well owners struggle with,” says Fabian Fischer, e-commerce entrepreneur.
- “I have tried Aqvify in my own well and during the summer was almost obsessed with checking the groundwater level, how many showers the water in the well is enough for – and all the other data. Of course, I want to support Swedish innovation and investing was therefore an easy decision,” says Måns Ulvestam, CEO Sesamy and entrepreneur.
Aqvify AB is founded by Rikard Tidala and Fredrik Olsson. The company has today (November 2021) close to one hundred customers with connected wells. Aqvify is patent pending and has been awarded a grant in Vinnova Innovative Startups 2021.
More about the product and the company can be found at aqvify.com.
About the investors
New investors in Aqvify are Mats Bjelkevik (Indoor Energy), Magnus Dimert (Adlibris & Addnature), Fabian Fisher (Adlibris & Apotea) and Måns Ulvestam (Acast).