UK VC backs leak preventer

A consortium of venture capital firms led by London-based Swarraton Partners has raised £4.2m in series A funding for water technology provider i20 Water.

From the multi million pound investment, Southampton-based i20 Water will launch its new technology that aims to reduce water leaks and produces carbon savings. The technology will target the UK and international markets.

Chairman of FirstCapital, Hazel Moore, said: “i20’s success in securing venture capital shows that despite the economic downturn, good businesses developing innovative technology to solve pressing environmental problems are still able to raise investment.”

Venture capital firm Swarraton Partners focuses on the UK and invests in early stage and growth-stage companies.

First Capital, the technology investment bank, acted as the sole financial advisor in this transaction.