HULO.ai, a Netherlands-based startup that develops advanced AI algorithms to tackle water loss, secured €800,000 in funding.
The investment was from LUMO Labs and the Netherlands Enabling Water Technology (NEW) Fund.
LUMO Labs is an impact-driven multi-stage (pre-seed through series A) venture capital fund with a coaching program for founding teams. of ventures focused on AI/Data, Blockchain, IoT, VR/AR, and/or Digital Security.
The Netherlands Enabling Watertechnology (NEW) fund supports start-ups active in the water technology sector.
HULO.ai Use of Funds
The funds will be used to enhance its cloud-based solution, making it scalable and adaptable to different market needs globally. The company aims to expand into new markets, targeting regions where water scarcity and leakage are most critical.
HULO.ai specializes in real-time detection and localization of water leakages within distribution networks, using AI to minimize the need for extensive physical checks on infrastructure. The company develops algorithms to optimize sensor positioning and to detect, classify, size, and localize anomalies. HULO’s mission is to provide a globally affordable solution to improve water supplies and to reduce NRW by doing it the smart way, ’together’ with its clients.
Funding Month: November 2023
Lead Investors: LUMO Labs and the Netherlands Enabling Water Technology (NEW) Fund
Company Website: https://hulo.ai/
Software Category: Water Management