We are proud to present our latest investment: Tapp Water. This time we focus in sustainability and are proud to make our environmental statement to avoid plastic. Tapp is a water filtration company based in Barcelona and London. The company’s goal is to offer cleaner and healthier tap water with a minimal environmental impact.
Yabeo as well Bluewater and EU H2020 follow Tapp’s mission to eliminate 10 billion plastic bottles.
Please read the press release below:
TAPP Water, founded by Swedish entrepreneur Magnus Jern and three colleagues is fast-tracking efforts to provide sustainable solutions for clean and affordable tap water. The company today announced it has successfully raised two million euro to further supports its drive to eliminate 10 billion plastic bottles of water and grow a billion-euro business by 2023. The three investors behind the new funding are Stockholm-headquartered Bluewater, a global leader in innovative drinking water technology and solutions, yabeo, a German early and later stage investor focusing on innovative FinTech and Health Tech companies as well as companies with social or environmental impact, and the European Union’s Horizon 2020 Research and Innovation funding program.
Tapp started as a research project in Barcelona in 2015 to find the best water filter to improve the taste of the hard and highly chlorinated local tap water. The project was driven by the insight that about 8 million Spanish households only consume bottled water, of which less than 30% get recycled and the rest ended up in landfill.
“We felt there had to be a better way to access clean water than rely on single-use plastic bottles,” said TAPP founder Magnus Jern. After testing more than 30 existing products the team concluded there was nothing on the market today that appealed to the mass market and set about finding a solution.
In January 2017, TAPP Water launched the first tap water filtration product, TAPP 1, as a pilot. The market and customer feedback in Spain exceeded expectations with almost 10,000 customers in the first year.
On the back of that success, the company continued to evolve and launched the world’s first water filter with biodegradable cartridges, TAPP 2, in July 2018. TAPP 2 provides a simple, affordable and environmentally friendly way for every household to get clean tasty tap water. There is no longer any reason to buy bottled water in Europe or North America.
Globally, more than 600 million households are consuming over 250 billion plastic bottles in 2018. Of this only 10% is recycled and the rest ends up in landfill or is dumped as waste in terrestrial or ocean environments. Lakes, rivers and groundwater are now so badly polluted that microplastics were found in 72% of European tap water and 92% of bottled water, according to OrbMedia’s recent reports.
The latest funding raised by TAPP will enable the company to tackle the massive plastics bottle challenge and scale rapidly. The pre A-round just closed with 2 million euro from high profile sustainability investors Bluewater, Yabeo and the European Union H2020 EU grant for development of the next generation product, an innovative, sensor-based, IoT-ready faucet filter that purifies tap water and simultaneously generates fact-based data on the quality of the filtered water. This development is in line with the new European Strategy for Plastics in a Circular Economy and directly targets several of UN’s 2030 Global Sustainable Development Goals.
“Bluewater and yabeo are our dream investors thanks to their sustainability focus, track record and capacity to help us grow to achieve our mission” said Magnus Jern, co-founder of TAPP Water.
“Bluewater has put sustainability and the removal of the need for single use plastic bottles at the heart of its business mission as the leading water technology and solutions provider with operations in Europe, China, the United States, South East Asia and Africa,” said Bluewater President and Chief Strategy Officer, Anders Jacobson. He said TAPP’s business vision and mission made the company an ideal company to invest in.