TORONTO & PALO ALTO, Calif.--(BUSINESS WIRE)--Raiven Capital, a global early-stage tech venture fund, today announced its investment in Wayout, an IoT-enabled, water purification system that can turn all kinds of source water, even seawater, into drinkable water. Wayout is Raiven’s second European investment.
Founded in 2018 in Stockholm, the company’s container-sized, tech-enabled system is essentially a powered “micro factory” that removes impurities and demineralizes groundwater locally, eliminating the need to transport usable water to a faraway destination. Each sensor-enabled unit, which produces water for 2,000 people per day, is connected to the cloud, providing immediate data on efficiency via a desktop app.
“We are thrilled to invest in Wayout, especially as clean water should be a basic human right,” said Paul Dugsin, Raiven Capital General Partner. “This company solves a very serious problem, which is how to provide clean, safe drinking water to anyone, anywhere. Most importantly, the company is disruptive, eliminating outdated industrial structures that are inefficient, often requiring complicated supply chains that ship plastic bottles that end up in landfills.”
Ulf Stenerhag, CEO and Founder of Wayout, said that: “We are excited that Raiven has invested in us, especially as they bring expertise and experience that will contribute to our growth. They understand the potential of our company and why a transition to local and sustainable production of water transforms global value chains.”
About Raiven Capital
Raiven Capital is a global early-stage technology venture fund with roots in Silicon Valley and Toronto focusing on opportunities in Artificial Intelligence, DLT and Internet of Things. Raiven actively seeks passionate founders developing companies that optimize value chains across cybersecurity, finance, energy, health, environment, and food sectors. Once growth is robust, Raiven exits its portfolio companies to later-stage capital in Silicon Valley and beyond.
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About Wayout https://wayoutintl.com/
Swedish SustainTech company Wayout offers complete water production systems for local coverage of perfect drinking water on a commercial platform with minimal eco-footprint. A single Wayout system can supply 2000 people with clean and safe daily drinking and cooking water with zero byproducts while helping to eliminate the use of approximately 6.5 million plastic bottles and prevent the release of 536 metric tons of CO₂ emissions yearly. A fully digitized system provides data and enables optimization.
