When was First Water founded?

First Water was founded in 2023 and raised its 1st funding round within a year of its incorporation.

Where is First Water located?

First Water is headquartered in Kopavogur, Iceland.

Who is the current CEO of First Water?

Eggert Por Kristofersson of First Water.

How many employees does First Water have?

As of Apr 30, 2026, the latest employee count at First Water is 43.

Is First Water a funded company?

First Water is a funded company, having raised a total of $174M across 4 funding rounds to date. The company's 1st funding round was a $***** Grant (prize money) round, raised on Jun 01, 2023.

When was the latest funding round of First Water?

First Water's latest funding was a $***** Seed round on Nov 05, 2025, with participation from 0 investor.

Where does First Water rank among its competitors?

First Water ranks 31st amongst 999 active competitors, of which 49 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was First Water, which secured $27.6M in Nov, 2025.

Who are the top competitors of First Water?

First Water's top competitors include American Water, Montrose and Advanced Drainage Systems. Among them, First Water secured the most recent funding round in November, 2025.

First Water - 2026 Company Profile, Team, Funding & Competitors

First Water is a seed company based in Kopavogur (Iceland), founded in 2023. It operates as a Developer of land-based Atlantic salmon farming facilities. First Water has raised $174M in funding. The company has 999 active competitors, including 49 funded and 251 that have exited. Its top competitors include companies like American Water, Montrose and Advanced Drainage Systems.

Company Details

Developer of land-based Atlantic salmon farming facilities. The company focuses on sustainable aquaculture through land-based facilities. It aims to produce high-quality salmon while minimizing environmental impact through responsible seafood production. The company utilizes renewable energy and seawater in its farming process.

Website: www.firstwater.is/
Email ID: *****@firstwater.is
Phone Number: +354 **********

Key Metrics

Founded Year

2023

Location

Kopavogur, Iceland

Stage

Seed

Total Funding

$174M in 4 rounds

Latest Funding Round

Seed, Nov 05, 2025, $*****

Investors

Europa

Ranked

31^st among 999 active competitors

Employee Count

43 as on Apr 30, 2026

Similar Companies

American Water & 1072 more

View First Water's full profile

First Water has raised a total funding of $174M over 4 rounds. Its first funding round was on Jun 01, 2023. First Water has 1 institutional investor.

Here is the list of recent funding rounds of First Water:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Nov 05, 2025	4679738	Seed	2111577	9168846	7482538	2663871
Mar 26, 2025	5795626	Seed	7376388	6449164	3064371	5128992
Jul 03, 2023	7857088	Seed	5613025	5992349	2100989	5988674

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View details of First Water's funding rounds and investors

First Water's employee count trend

First Water has 43 employees as of Apr 26. Here is First Water's employee count trend over the years:

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Top competitors of First Water include American Water, Montrose and Advanced Drainage Systems. Here is the list of Top 10 competitors of First Water, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	American Water 1886, Voorhees Township (United States), Public	Provider of complementary water and wastewater services	-	State of California, The Water Research Foundation ... & 2 others	64/100
2nd	Montrose 2012, North Little Rock (United States), Public	Provider of environmental engineering, analytical, and water treatment services	$23.6M	Oaktree Capital Management, Michigan Capital Network ... Read more	63/100
3rd	Advanced Drainage Systems 1966, Hilliard (United States), Public	Provider of water management services	-	American Securities, Triodos Investment Management ... & 2 others	63/100
4th	LADWP 1902, United States, Funding Raised	Provider of power and water management services	-	U.S. Environmental Protection Agency, FEMA ... & 2 others	59/100
5th	Resource Environmental Solutions 2007, Houston (United States), Acquired	Provider of ecological restoration and water resource solutions	$3M	Onex, KKR & 1 others	58/100
6th	EMS 1998, Ghaziabad (India), Public	Company specializing in providing turnkey services in water and electrical projects	-	-	58/100
7th	Primo Water 1952, Tampa (United States), Acquired	Provider of water management services	-	Thomas H Lee Partners	52/100
8th	Seven Seas Water 1997, Tampa (United States), Acquired	Provider of water management solutions	$20M	Element Partners, TPG & 4 others	52/100
9th	Iguá 2017, Sao Paulo (Brazil), Series D	Provider of water management services	$216M	CPP Investments, BNDES & 2 others	49/100
10th	HMElectromech 2018, Ahmedabad (India), Public	H.M. Electro Mech Limited	-	-	49/100
31st	First Water 2023, Kopavogur (Iceland), Seed	Developer of land-based Atlantic salmon farming facilities	$174M	Europa	43/100