Gateshead-based Origin Tech, a fast-growth provider of technology and engineering services to the water sector, has secured a multi-million-pound investment from growth capital investor BGF.
Founded in 2019 by Phil Surtees and John Marsden, Origin Tech designs and delivers a suite of advanced technologies that help water companies take action on water leakage.
Its AI and satellite-enabled leak detection technology, Origin Orbit, allows water companies to identify leaks within a 30 mile area.
Meanwhile, Origin No Dig is able to seal leaks without excavation or knowing the precise location of a leak, saving water companies time and money, reducing carbon emissions and ending customer and road disruption.
BGF’s capital will be invested into continued product development to further accelerate the growth and internationalisation of the business.
John Marsden, Director and founder of Origin Tech, said: “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.
“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, said: “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.”