VAPAR, a Sydney, Australia-based startup utilizing AI to inspect sewer pipes for preemptive maintenance, has raised $5 million in a Series A round.
Investors
Led by Dutch water tech VC PureTerra Ventures, with support from Autodesk and existing investors like Halma Ventures, Metagrove Ventures, Sprint Ventures, and Access Capital Ventures.
Founded in 2019, PureTerra Ventures is a venture capital investment firm based in Amsterdam, The Netherlands. The firm prefers investing in water technology companies. The firm has an additional office in Shanghai, China.
VAPAR Use of Funds
The company will use the funds to fuel its expansion into the US market.
About VAPAR
Founded in 2018 by Amanda Siqueira and Michelle Aguilar, VAPAR builds software to streamline and automate the management of pipe infrastructure. The company uses AI to review stormwater and sewer pipe inspections and hosts utilities' data on their cloud platform to make decision-making quicker, easier, and more objective. The company is on a mission to eliminate failures in underground infrastructure to ensure critical infrastructure investment meets the needs of our communities. Today, the company serves water authorities in the United States, United Kingdom, Australia, and New Zealand.
Funding Details
Company: VAPAR Innovation Pty. Ltd.
Raised: $5.0M
Round: Series A
Funding Month: January 2024
Lead Investors: PureTerra Ventures
Additional Investors: Autodesk, Halma Ventures, Metagrove Ventures, Sprint Ventures, and Access Capital Ventures
Company Website: https://www.vapar.co/
Software Category: Pipe Maintenance
Source: https://www.vapar.co/autodesk-pureterra-united-states-expansion/