According to the UN and the WHO, every 21 seconds, a child, and about 3.5 million people in a year die in the developing countries owing to waterborne diseases caused by drinking contaminated water. The European water filter market is estimated to rise at a compound annual growth rate of 10.3% throughout the foreseen period.
The situation in the growing economies of Europe is getting worse. The scarcity of fresh water, and the increase in pollution & population, are a few factors that have been increasing the incidence of waterborne diseases and hence boosting the demand for water purification systems.
This is where Sofi Filtration steps in. The company has raised €3M in a fresh round of funding led by Emerald Technology Ventures and joined by Voima Ventures. This is the first investment of Emerald’s recently announced water innovation impact fund.
Alongside the primary transaction, a secondary transaction was conducted with selected investors including Loudspring. As part of this transaction, Helge Daebel, Emerald Partner for water activities, has joined the board of Sofi Filtration.
Daebel explains, “Sofi Filtration offers a unique, rugged, low-touch and very efficient filtration system for several large industrial markets that are facing significant challenges. Examples are upstream mining and oil & gas production processes, where the amount of water needed per unit of materials extracted increases, while fresh water availability decreases.”
State-of-the-art water filtration technology
Founded in 2011 by Pertti Rantala, Simo Aho, and Ville Hakala, Sofi Filtration is a Finnish provider of state-of-the-art water filtration technology.
The Finland-based company is backed by public innovation development funds as well as private investors. The company offers water treatment solutions that are robust and highly automated with the industry’s best performance.
Sofi Filter’s automatic and energy-efficient microfiltration solutions can be applied to many industries such as mining, metallurgical, among others.
Sofi Filter’s other developments
Earlier this year the company received funds from the Baltic Sea Action Plan Fund (BSAP). The Fund was jointly managed by Nordic Environment Finance Corporation (NEFCO) and the Nordic Investment Bank (NIB) and is financed by contributions from the governments of Finland and Sweden.
The funds helped the company to purify wastewater on-site. The microplastics that enter larger water streams and eventually in the Baltic Sea, can be removed on-site with the help of Sofi Filter – it can remove as small as 0.3 µm plastic particles from the water flow. With the funds granted, the company will be able to offer plastic manufacturing, recycling, or treatment plants Sofi piloting on-site.
In May this year, a waste-to-energy plant in Tampere, Finland – which incinerates 160,000 tonnes of municipal solid waste annually – equipped with the latest technology – was producing excess amounts of flue gas condensate water. Sofi Filtration helped the plant to save costs and increased the power plant energy output by 5-10%.
In 2015, Sofi Filtration had raised €50,000 grant from EASME – EU Executive Agency for SMEs and an undisclosed amount from Loudspring.
Image credit: Sofi Filtration
I'm looking to find problems that can be solved with tech in traditionally low-tech industries and was curious if anyone has pointers where to look?
I have experience in building startups and in XR, Drones, small robotics, and IoT, however, I'm in the uncommon circumstance of having the technical and business background but lacking a problem worth solving.
So far the things I've come up with have all already been done, and done well. Here are a few examples of the types of issues I'm looking to solve (these all already exist).
- Using XR to enable firefighters to "see" in smoke filled rooms.
- Using drones with thermal to find lost pets after disasters.
- Using drones for controlled burns (firefighting).
- Using drones to inspect tunnels, railroads, bridges, tight spaces, and other infrastructure.
Now’s the time for sustainable investments to shine. There are billions of dollars in funding in both public and private markets dedicated to new sustainable investing and demand for consumers for a more conscious capitalism has never been stronger.
As founders and investors reawaken to a sustainable morning in America a few areas are going to demand hardware, software and business model innovations.
Some of these sectors have been on the investment radar for the past year or two and others are just beginning to capture investor attention, but they all have something in common: the investor appetite for new businesses addressing the food supply chain; energy management and construction for homes and offices; carbon sequestration and monitoring and management of offsets; and new biomaterials and processes for packaging and industrial chemicals replacements have never been stronger.
COVID-19, the disease caused by the SARS-CoV-2 virus, has exposed significant holes in the food supply. Companies like AppHarvest, which agreed to go public through a SPAC earlier this year are only one of several companies remaking agriculture through the application of technology. There’s also Plenty, Bowery Farms, Unfold, BrightFarms and Revol Greens, working to upend the agricultural supply chain. If those companies are looking at new ways of growing crops, companies like Apeel Sciences and Hazel Technologies are trying to find ways to preserve food from spoilage. Treasure8 is looking at ways to use food waste for new food and ingredients and they’re not alone.
Then there’s the protein replacement companies that we’ve written about previously. Impossible Foods, Beyond Meat, Memphis Meats, Mosa Meat, Nuggs, Future Meat Technologies, Shiok Meats (a seafood company) are devising methods to create meaty proteins less dependent on animal husbandry. Perfect Day and its competitors are doing the same for the dairy industry.
There’s also tremendous need for new protein sources to feed the animals that people around the world still like to eat. For this there’re companies like Ynsect, which is providing insect proteins for industrial fish farms, or Grubly Farms, which is providing feed to the families raising their own chickens.
For these opportunities that are raising hundreds of millions in financing there are others that require the kind of high margin software solutions that are yet to be developed. These are visual technologies for tracking, monitoring and managing food production; sensors for improving the storage and supply chain, software for managing production and tracking produce and products from the farm to the table. Venture investors are beginning to invest in these companies as well.
This episode of StartupNation Radio is brought to you by Pappas Financial
On today’s episode of StartupNation Radio, Jeff is joined by co-host, Norm Pappas, president and CEO of Pappas Financial. Together, they interview the Pappas brothers: Ed Pappas (a litigation attorney) and Rick Pappas (president of Davenport University).
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The focus of today’s show is the ability to be an entrepreneur and think entrepreneurially and how these skills can be applied to various careers and fields.
During the show, Ed discusses:
- His role with law firm Dickinson Wright
- Why you must be an entrepreneur to succeed in law
- The three Rs of business development: establishing reputation, respect and relationships
- What his role leading Davenport University entails
- The entrepreneurial aspects of higher education
Together, the three Pappas brothers talk about:
- How to earn revenue when leading a university
- The key things that Rick is doing to make the business of the university work
- The importance of intrapreneurship within an organization
- How to market yourself as a lawyer
- The power of referrals
- The importance of building expertise within a given vertical
- Learning from failure
- How the trio have learned from each other as brothers
- Working hard versus working smart
Listen to the full interview here
We’ll be back next Saturday with an all-new edition of StartupNation Radio!
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