North East-based Origin Tech has secured a multi-million-pound growth investment from BGF, as it looks to accelerate its expansion in the UK and overseas water markets.
Founded in 2019 by Phil Surtees and John Marsden, the business develops advanced technologies that help water companies tackle leakage more effectively and sustainably.
Its AI and satellite-enabled leak detection platform, Origin Orbit, aims to allow utilities to pinpoint leaks within a 30-metre radius.
Meanwhile, its Origin No Dig solution can seal leaks without excavation or precise location data.
Together, the technologies look to help water companies save time and money, cut carbon emissions and avoid disruption to customers and road networks.
Since launch, the company has repaired more than 10,000 leaks and saved over 3 billion litres of water.
Earlier this year, it began rolling out its solutions internationally, identifying strong demand and early success in overseas markets.
The investment from BGF will support continued product development and help accelerate the company’s international growth plans.
Fraudster Andrew Currie handed confiscation order following prison release
BGF recently announced a £3bn commitment to support high-potential businesses across the UK over the next five years, with £400 million earmarked for Yorkshire and the North East.
The firm has already invested £711m in the regions since 2011 and maintains a strong presence in Newcastle.
“In 2019, we set out on a mission to become water industry innovators by blending technology and engineering to drive down water loss and protect the environment,” said Marsden.
“In a short space of time, we have turned that vision into a reality, saving over three billion litres of water and repairing more than 10,000 leaks. Earlier this year, we began to roll out our offering internationally, seeing potential and success in overseas markets.
“However, in order to fully capitalise on this potential, we needed an investment partner with the appetite and ambition to back a high-growth business like ours, as well as a flexible investment model that will allow us to realise our far-reaching goals.
“BGF fits the bill in every respect, and we’re delighted to be partnering with them.”
John Healey, investor at BGF, added: “Since its commercial launch three years ago, Origin has scaled rapidly, quickly establishing itself as a key innovator for the UK water market.
“With John, Phil and the team delivering an exciting growth plan being scaled from the North East, Origin has all the hallmarks of becoming a real industry disruptor, pushing boundaries – both domestically and overseas – through its innovative satellite-enabled leak detection technology and trenchless leakage repair.
“Origin is on an impressive growth trajectory, with high aspirations for the future, and we’re delighted to be partnering with them on the next phase of their scale-up journey.”