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InfoTiles AS  ·  Confidential

InfoTiles varde, a cairn marking the way
Investor Deck · June 2026
Water Intelligence Platform

The source of truth for water.

InfoTiles is the source of truth for the world's most important resource, turning fragmented water infrastructure data into real-time decisions that protect communities and scale sustainably.

Water infrastructure runs the world. It should run on data.

Water infrastructure is the cornerstone of modern society. Yet the utilities responsible for it operate with fragmented data, ageing systems, and insufficient insight. Decisions that should take minutes take months. Investments that should be targeted are made on instinct.

InfoTiles was founded in Stavanger in 2016 with a single, clear ambition: to be the source of truth for water. We build AI-powered analytics that turn raw operational data into trusted decisions, for every utility, at every scale, across every geography.

"InfoTiles has given us a completely new picture of our network. We now make decisions in hours that used to take weeks."

Erlend Berg, Enterprise Architect, Lillestrøm Municipality

The global water sector is under-digitised, under-resourced, and under pressure.

Fragmented data systems

Utilities operate across dozens of disconnected data sources: SCADA, GIS, billing, maintenance logs, meter reads. No single system provides a coherent operational picture.

Slow decision cycles

Without a unified data layer, engineers spend weeks compiling reports that should take hours. Investment decisions are delayed. Risk goes unquantified.

Reactive maintenance

Without predictive insight, utilities respond to failures rather than preventing them, at enormous cost to infrastructure, environment and communities.

Regulatory enforcement

Stricter EU and UK regulation on water quality, leakage and carbon is accelerating the need for digital operational intelligence across all utility sizes.

A unified intelligence layer across water and wastewater networks.

InfoTiles has built its competitive moat in two deliberate stages. The first was graph neural networks: PipeFusion, a proprietary Graph Neural Network (GNN) engine that models the complete physical and hydraulic behaviour of a water network without requiring a pre-built hydraulic model. It ingests Supervisory Control and Data Acquisition (SCADA) telemetry, Geographic Information System (GIS) data, meter reads, rainfall and river gauge data, and produces a live, machine-readable model of every pipe, pump and zone in the network.

The second stage is large language models. Above PipeFusion sits a suite of intelligence modules, and at the top of the stack sits the Delta AI assistant, a Retrieval-Augmented Generation (RAG) architecture decision support layer that allows engineers and managers to query their network in natural language and receive responses grounded in live operational data. Each stage compounds the moat: the GNN generates proprietary network intelligence that no competitor can replicate from outside, and the language model layer makes that intelligence accessible to every operator, not just data scientists.

Delta AI Decision Support
AI Layer · Sits across the full stack · Live

Retrieval-Augmented Generation (RAG) architecture over PipeFusion and live Supervisory Control and Data Acquisition (SCADA) telemetry. Engineers query their network in natural language and receive responses grounded in live operational data. Live in Lillestrøm (launched June 2026); Ålesund and Drammen onboarding. Azure AI Foundry Large Language Model (LLM) backend with ~98.5% token cache hit rate.

PipeFusion
Entry Point · Graph Neural Network

GNN-based network modelling. Deployable from emailed GIS files, no hydraulic model required. Cleans asset data, identifies topology errors, and produces a live graph of the network with flow estimates and risk scores. Reduces sales-to-deployment lead time by 70%.

WaterIntelligence
Operational Intelligence

Real-time operational dashboards integrating SCADA, sensor and telemetry data. Pressure management, burst detection, zone monitoring and performance benchmarking in a single operator interface.

SewerIntelligence
Wastewater & Inflow and Infiltration (I&I)nalytics

Quantifies Inflow and Infiltration by volume, operational cost and CO₂ footprint. Prioritises rehabilitation investment using AI-derived risk scoring. Deployed with Arup at Severn Trent Water across the Gloucester catchment.

MeterOps
Smart Metering Analytics

End-to-end analytics for Narrowband Internet of Things (NB-IoT) and Automatic Meter Reading (AMR) meter estates. Leakage detection, consumption anomaly alerts, district meter area management, and Komtek billing integration. Deployed across 60,000 meters in Trondheim.

The compounding data advantage

The moat has been built in two layers. First, every new deployment adds Graph Neural Network (GNN) training data that improves network model accuracy across the entire graph, data that competitors cannot access. Second, the Delta Large Language Model (LLM) layer learns from operational queries and outcomes across the full customer base. Both layers compound with scale, making the platform structurally more defensible with every utility added.

Built to win where it matters — in real networks, with real operators, at real scale.

InfoTiles is uniquely positioned to become the intelligence layer for water utilities because we remove the core barriers to adoption, improve continuously with data, and are built for real operational use.

Traditional solutions depend on complex, costly, and static hydraulic models that take months to build and are rarely maintained. InfoTiles replaces this with AI-based network models that deploy significantly faster and adapt continuously, allowing utilities to move from idea to value in weeks rather than months. This fundamentally changes the economics and speed of adoption.

Every new deployment adds operational data that improves the accuracy and performance of our models. As more utilities contribute to the platform, the system becomes smarter and more valuable for every customer. This compounding data network effect creates a structural moat that is difficult for any competitor to replicate, and it strengthens with time.

Where existing solutions are limited to planning or consultancy use cases, InfoTiles is embedded directly into daily operational workflows. Operators use the platform continuously to monitor systems, detect issues, and make decisions in real time. This makes the product mission-critical rather than optional, and it drives the kind of deep engagement that underpins strong retention.

Our team understands both the complexity of water systems and how to build scalable software platforms. This combination allows us to deliver solutions that are technically advanced and practically usable. Traditional vendors lack modern AI capabilities. Generic AI players lack domain understanding. InfoTiles sits at the intersection of both.

Our early deployments demonstrate that this model works in practice. We have already proven we can deploy quickly, integrate complex data environments, and deliver measurable value in live utility settings. This gives us a clear and validated path from individual deployments to scaled adoption across regions and markets.

Founded and led by domain specialists.

InfoTiles is led by a founding team with complementary backgrounds across water engineering, enterprise software, management consulting, and digital product development. The five co-founders have worked together since founding, creating a stable leadership core with direct operator relationships across the Nordic and UK markets.

Johnny Gunneng
Johnny Gunneng
CEO & Co-founder

Serial entrepreneur and water sector specialist. Led the company from founding through commercial scale. Deep operator relationships across Nordic municipalities and UK water companies.

EY · EVRY · Greenbird Technologies · CBS
Pedja Bihor
Pedja Bihor
CTO & Co-founder

Leads platform architecture and engineering. Built the PipeFusion graph neural network engine from the ground up. Background in distributed systems and geospatial data infrastructure.

Greenbird Integration · Powel · EVRY · Inmeta
Magne Eide
Magne Eide
COO & Co-founder

Operational leadership and customer delivery. Manages the end-to-end deployment and customer success function across all markets. Former background in operational management and infrastructure projects.

Accenture · EY · NTNU
Marco Westergren
Marco Westergren
Chief Analytics Officer & Co-founder

Leads the analytics and data science function. Responsible for model development, ML pipeline, and the analytical foundations of WaterIntelligence and SewerIntelligence.

Statkraft · Skedsmo Municipality · UiO
Adam Wood
Adam Wood
CPO & Co-founder

Product leadership and go-to-market. 15 years bridging operations and technology. Led Sustainability & Technology for FIFA World Cup stadium projects in Qatar. BSc Biochemistry (University of Melbourne); MBA (HEC Paris).

FIFA World Cup · Qatar · HEC Paris · Melbourne
Matthias Schirle
Matthias Schirle
Business Development

Drives commercial expansion across European utility markets. Focused on partner development, enterprise sales, and scaling InfoTiles' footprint in the DACH region and beyond.

InfoTiles
Ask Elvevold
Ask Elvevold
Data Scientist

Data scientist and one of the engineering minds behind PipeFusion. Specialises in graph neural networks, data pipelines, and the analytical infrastructure that powers InfoTiles' network intelligence.

InfoTiles
Ioannis Pavlou
Ioannis Pavlou
Data & Analytics Engineer

Specialist in water network analytics and SewerIntelligence deployments. Leads technical delivery on hydraulic modelling, data pipelines, and customer onboarding for Nordic and UK utilities.

InfoTiles

Experienced governance with strategic and capital markets depth.

The InfoTiles board combines operator-level industry expertise, capital markets experience, and active Venture Capital (VC) involvement, providing both strategic oversight and direct access to the networks required to scale internationally.

John Avaldsnes
John Avaldsnes
Board Member

EY leadership in Oil & Gas across EMEIA and the Nordics. Extensive experience advising asset-heavy industries on technology transformation, operational efficiency and organisational strategy at executive and board level.

EY · O&G · Energy · EMEIA
Odd Nymark
Odd Nymark
Board Member

Experienced CEO and board member across finance, IT and real estate sectors. BBA in Finance from BI Norwegian Business School. Brings disciplined financial governance and broad network across the Norwegian business community.

Finance · IT · Real Estate · BI
Borgar Ljosland
Ali Najafbagy
Board Observer, 4impact

Co-founder and General Partner of 4impact, a €68M Sustainable Finance Disclosure Regulation (SFDR) Article 9 VC fund. Former Goldman Sachs and Mubadala/Masdar. Harvard Business School. Backed InfoTiles through a Nordic sustainability and climate infrastructure thesis.

4impact · Goldman Sachs · Mubadala · HBS
Ali Najafbagy
Borgar Ljosland
Board Member, ProVenture

Senior Partner at ProVenture Management, a Trondheim-based seed and early-stage VC with 15+ years backing digital technology companies. Serial entrepreneur with 22 years as founder and startup CEO across semiconductors, media, and software. MSc Computer Science, NTNU. Board member of InfoTiles since February 2021.

ProVenture · NTNU · Serial Entrepreneur

Land with PipeFusion. Expand with the platform.

InfoTiles operates a land-and-expand model anchored by PipeFusion, the lowest-friction entry point in the market, deployable from emailed files and billable from week one. As trust builds and operational dependence deepens, customers expand into WaterIntelligence, MeterOps, SewerIntelligence and the Δ Delta AI assistant. Switching costs compound with every module added.

SaaS Licences

Annual subscription per module, per utility. Structured around network size, sensor count and data volume. Minimal churn to date. The platform embeds into critical operational workflows.

Implementation Services

Data onboarding, GIS cleaning, integration and configuration. Short time-to-value by design. PipeFusion has reduced overall sales-to-deployment lead times by approximately 70%.

Managed Services

Ongoing technical support, model maintenance and performance monitoring. Recurring revenue with low marginal cost per additional customer.

Buy-and-Build Group Revenue

Phase 1 target: NOK 100M group revenue through 3–5 acquisitions in consultancy, automation, field services and technology. Phase 2 target: NOK 250M at a 750MNOK–1BNOK valuation.

2026 forecast includes signed contracts and advanced-stage pipeline. Assumes Delta AI assistant live across three deployments by Q3 2026.

Proven at scale across Nordic and UK markets.

Lillestrøm Municipality (Norway)

Full platform deployment across water and wastewater since 2018. Identified EUR 2 million in annual savings and over 1 million m³ in ingress mitigation. Reference customer for operational ROI and AI assistant deployment (Delta, live June 2026).

Severn Trent Water (UK)

Deployed with Arup across the Gloucester catchment. PipeFusion and SewerIntelligence used to quantify Inflow and Infiltration across the network: modelled in 16 weeks, addressing an 80,000m³ storage challenge. Groundwork laid for national rollout across Severn Trent's full network.

Trondheim Municipality (Norway)

60,000 smart water meters deployed, the largest smart meter rollout in Norway. Full MeterOps deployment integrating NB-IoT meter data with Komtek billing. Benchmark reference for large-scale municipal MeterOps.

Anglian Water (UK)

PipeFusion deployed for network modelling and leakage prioritisation. Active engagement on expanded deployment across the network. "Anglian Water is so proud to be involved in the success of the pilot programme, which will transform the way we manage our water recycling sites." Mark Stirling, Anglian Water.

Håbo Municipality Sweden

SewerIntelligence deployed to quantify and locate Inflow and Infiltration (I&I) across Håbo's wastewater network. Analysis identified that 18% of all wastewater treated is attributable to I&I — equivalent to SEK 13 million (approx. €1.3 million) in excess operating costs annually, or roughly €61 per inhabitant. The platform pinpointed the specific pumping zones receiving the largest net volumes, directing the maintenance team to excavate in exactly those locations. Physical inspection confirmed significant pipe breaches, including drained surface water from nearby farmland penetrating the wastewater system at high pressure. Håbo acted on the analysis, dug, found the damage, and made the repairs. A textbook demonstration of insight converted to physical infrastructure action.

"The speed at which InfoTiles modelled our catchment was genuinely impressive. What would have taken months was done in weeks, and the outputs were immediately usable."

Rebecca Sweeney, Waste Infrastructure Design Team Leader, Severn Trent Water

From pilot to platform, commercial momentum is building.

The platform has moved from technical validation to commercial scale. Pilots have converted to long-term Software as a Service (SaaS) contracts. The sales cycle has been restructured by PipeFusion: overall lead time from prospect to offer has been reduced by approximately 70%, and the proportion of qualified prospects converting to ARR has increased materially.

NOK 3.2M
2022
NOK 3.7M
2023
NOK 4.6M
2024
NOK 6.5M
2025
NOK 11.8M
2026F
9
Countries with active customers
~0%
SaaS licence churn to date
NOK 4.6M
Actual ARR at 31 Dec 2024

Awards recognising the platform's impact include: Morgenstad & Nordic Edge Smart City Implementation Award (2018), Den norske dataforening Smart City Solution of the Year (2020), Microsoft Norway Innovation Partner of the Year (2020), Urban Tech Forward Waste & Water (2020), and Microsoft Norway Sustainability Partner of the Year (2022).

2016
Founded in Stavanger

Water utility analytics platform founded. Initial focus on data integration for Norwegian municipalities.

2018
First Major Deployment

Lillestrøm Municipality becomes anchor customer. Full platform deployment across water and wastewater. Long-term contract.

2020
International Expansion

First UK deployment. Netherlands and Switzerland markets activated. Platform extended to support multi-language and multi-currency billing environments.

2022
Tech & Commercial Validation

Microsoft Norway Sustainability Partner of the Year. Arup partnership activates. MeterOps deployed at scale. ARR NOK 3.7M.

2024
Refocused as Water Intelligence Platform

PipeFusion released. ARR NOK 4.6M. Severn Trent / Arup deployment completes in 16 weeks. International footprint: Netherlands, Switzerland, UK active.

2026
AI Launch & Scale

Delta AI assistant live in Lillestrøm (June 2026). ARR scaling toward NOK 11.8M. Buy-and-build strategy board-approved. Norwegian Institute of Public Health (NIPH) grants won for AI-based acoustic leak detection in Drammen and Ålesund municipalities.

Three reinforcing growth mechanisms.

InfoTiles grows through three reinforcing mechanisms. First, organic SaaS growth, 40–50% per year, driven by a partner-led go-to-market with Microsoft (Azure Marketplace), Arup (joint bids in UK and Middle East), Axflow (MeterOps co-sell in Norway) and Aveco de Bondt (Benelux). Second, a buy-and-build strategy targeting 3–6 acquisitions over 24–48 months. Third, cross-sell uplift of 15–25% on acquired revenue bases within 12–18 months of integration.

The go-to-market model begins with PipeFusion as the lowest-friction entry point, deployable on emailed files without live IT connections, enabling trust to be established before full integration. Upsell into WaterIntelligence, MeterOps, SewerIntelligence and Δ Delta follows as relationships deepen.

Phase 1 Target: NOK 100M Revenue

3–5 acquisitions. Consolidation of engineering consultancy, automation/SCADA, field services and SaaS technology in Norway and the UK. Cross-sell of InfoTiles SaaS into acquired customer bases. Target: NOK 100M group revenue.

Phase 2 Target: NOK 250M Revenue

Scaled platform with international reach. 6–10 acquisitions across Nordics, UK and Benelux. AI-native services layer generating high-margin recurring revenue. Target: NOK 250M revenue at 750MNOK–1BNOK valuation.

Sales cycle length

Public-sector procurement moves slowly. Mitigated by PipeFusion's fast-start model and growing framework contract alignment.

Integration complexity

Buy-and-build execution requires disciplined 100-day transitions per acquisition. Mitigated by a defined integration playbook developed prior to each close.

Market consolidation timing

Incumbents such as Xylem, Schneider and Autodesk are actively acquiring. The window for independent platforms is open but narrowing.

Talent at pace

Scaling a 9-person team across acquisitions is demanding. Mitigated by retaining acquired teams and building a single commercial house post-transition.

Measurable outcomes for utilities and communities.

InfoTiles is not a reporting tool. It is an operational decision layer that utilities rely on every day. Customer outcomes are quantified and contractible: Lillestrøm municipality identified EUR 2 million in annual savings and over 1 million m³ in ingress mitigation. Sales lead times have been reduced by 70%. At Severn Trent Water, Arup and InfoTiles modelled I&I across a major catchment in just 16 weeks, eliminating the need for costly storage infrastructure.

The platform architecture supports expansion into adjacent verticals, district heating, stormwater, private networks, using the same data and intelligence backbone. Deployment requires no new hardware and no rip-and-replace of existing SCADA or GIS systems. The compounding data advantage grows with each utility added, creating a structural moat that is very difficult for a new entrant to replicate.

The global digital water market is expected to grow from USD 29B to USD 58B by 2033, driven by regulatory pressure, infrastructure backlogs and climate resilience investment. InfoTiles' serviceable obtainable market within current geographies, Norway, Sweden, Denmark, Netherlands, Switzerland, UK and the US, is estimated at EUR 104 million, before geographic expansion accelerated by acquisitions.

EUR 2M
Annual savings, single customer
1M m³
Ingress mitigated, single deployment
70%
Reduction in sales-to-deployment lead time
16 weeks
I&I modelled, major UK catchment

Strategic partners accelerate reach and credibility.

Microsoft
Microsoft

Azure Marketplace listing and co-sell agreement. InfoTiles named Microsoft Norway Sustainability Partner of the Year. Joint go-to-market across Azure AI and IoT customers in the water sector.

Arup
Arup

Global engineering and advisory firm. Joint delivery at Severn Trent Water: I&I modelled across Gloucester catchment in 16 weeks. Active partnership programme targeting expanded co-delivery on UK Asset Management Period 8 (AMP8) and Middle East utility contracts.

AxFlow
AxFlow

Co-selling MeterOps and IoT-based analytics in Norway. Specialises in flow measurement for water, gas and industrial applications. Extends InfoTiles' reach into the Norwegian mid-market. MeterOps contract signed for Evje og Hornnes kommune.

Aveco de Bondt
Aveco de Bondt

Dutch infrastructure engineering and consultancy. Joint bids and active partnership development for the Netherlands and Benelux markets, a significant near-term ARR opportunity across Dutch water boards.

Norges forskningsråd (the Research Council of Norway) supports the ongoing R&D programme, including SkatteFUNN funding for PipeFusion Graph Neural Network (GNN) and the Delta AI assistant. In addition, InfoTiles has been awarded grants by the Norwegian Institute of Public Health (NIPH), a government agency under the Ministry of Health and Care Services that administers a national scheme supporting waterworks owners adopting new or further-developed technology to deliver safe drinking water. NIPH grants have been awarded for AI-based acoustic leak detection deployments in Drammen and Ålesund municipalities.

Buy-and-Build Pipeline

Active Tier 1 acquisition targets span engineering consultancy, automation and SCADA, field services and complementary SaaS technology, in Norway and the UK. Each acquisition adds customer relationships and domain data that feeds directly into the world graph.