UK based smart tech start-up Hero Labs has announced a substantial investment by Netherlands based water management and technology company Wavin.
Hero Labs reported that after working closely together for the past few months, Wavin have invested in the business to ensure the pioneering leak detection company can continue to forge ahead with advanced water management solutions and build out their usage analytics platform.
Leaks cause 31% of all damage caused to properties every year – that’s more than fire and burglaries combined. If a leak can be detected before it turns into something more serious, it can save property owners, building managers and insurers thousands of pounds.
Hero Labs has created Sonic, a compact smart leak detection system which uses a combination of AI, ultrasonic measurements and other technology to continuously check for leaks within a building – and if it spots one, shutting off the flow of water by automatically closing the valve. The system runs regular checks on the water pressure with any persistent or significant drop reported as a potential leak and if any pipes freeze and crack, the leak can be detected early on.
Steve Moore, CEO of Hero Labs said:
“Today marks a landmark moment for Hero Labs. The investment made by Wavin into the company means so much in terms of our future, for the solutions we build and the platform we are scaling – as well the people who work to create it all. We are already recruiting more technical specialists to aid us with the design, prototyping and testing of various new product variants and have now been able to appropriately recognise our brilliant and loyal team who have given us everything to get as far as we have.”
He added, “Looking to the future we will be carrying out more research and development so we can bring new benefits to users of Sonic, including Legionella risk analysis. The investment will also subsidise some pilots for larger clients and smaller market deployments in new territories. We have an enormous amount of respect for the work carried out by Wavin, and have truly enjoyed working with their enthusiastic and knowledgeable team. As well as the investment comes the privilege of working with a company with such an incredible reputation. It’s a terrific fit and a very exciting time for our company.”
Gert-Jan Maasdam, Wavin’s VP Services, Partnerships and Ventures, sees the investment in Hero Labs as the perfect strategic match between a promising start-up and a leading corporation.
“With Wavin’s global position in drinking water solutions, we support Hero Labs to rapidly scale and further develop their leak detection technology. Hero Labs’ longstanding expertise in digital building services will also boost Wavin’s growth ambitions in this area.”