Netherlands-based HULO.ai, a startup that develops advanced AI algorithms to tackle water loss, has secured €800K in a fresh round of funding from LUMO Labs and the Netherlands Enabling Water Technology (NEW) Fund.
Wetsus Research Institute spin-off HULO.ai will use the funds to enhance its cloud-based solution, making it highly scalable and adaptable to different market needs around the world.
With this investment, the company aims to expand into new markets, targeting regions where water scarcity and leakage are most critical.
Real-time leak localisation in water distribution networks
The urgency of addressing water scarcity is highlighted by UNICEF’s projection that half of the world’s population could face water scarcity by 2025. In response to this pressing issue, HULO.ai claims to be playing a vital role with its advanced AI solution.
Specialising in real-time detection and localisation of water leakages within distribution networks, the technology enables effective interventions. HULO.ai’s solution has been rigorously tested and validated through research conducted in Dutch water utilities.
The Netherlands, known for its sophisticated water management systems, serves as an ideal testing ground for HULO.ai’s innovative approach. By harnessing the power of AI, the company not only enhances efficiency but also promotes sustainability.
The solution minimises the necessity for extensive physical checks on infrastructure, leading to reduced water loss and contributing significantly to the conservation of this natural resource.
Robbert Lodewijks, co-founder and CEO of HULO.ai says, “We are excited to accelerate our journey towards creating more sustainable water management solutions. It has been a crazy journey till now and we are very happy with the investors we have on board.”
“It’s not only about the investment, but the knowledge these investors have on board is invaluable for the global impact we want to make with this company.”
Addressing water scarcity
HULO.ai is committed to addressing global water challenges through collaboration and value creation. The founders of the company emphasise the importance of strategic partnerships in raising awareness within the water industry.
Positioned in a region with a strong heritage in water management and close proximity to the Wetsus Research Institute, HULO.ai benefits from access to world-class research and talent.
This location also places the company in one of Europe’s leading water technology hubs, with organisations like Water Alliance and Isle Utilities at the Water campus supporting HULO.ai in achieving its goals.
Boudewijn Hulst, Investment Manager says, “The Netherlands Enabling Water Technology (NEW) fund is dedicated to investing in startups active in the water technology sector and thereby advancing and commercialising innovative water technology initiatives.”
“Among its focus areas are the intelligent and efficient management of water systems. HULO.ai’s solution fits this scope perfectly. Loss of clean drinking water through leakages and ineffective infrastructure management is a growing problem in a world increasingly facing a scarcity of clean water.”
“HULO.ai’s technology empowers businesses to conserve not only financial resources but, perhaps more importantly, water. We are excited to collaborate with LUMO Labs in fostering the continued development and expansion of HULO.ai’s impactful technology,” adds Hulst.
Brief about LUMO Labs and NEW-ttt
LUMO Labs advocates self-determination and traceable ownership of data and transparency and traceability of technologies.
LUMO Labs is a venture capital firm supporting impact-driven software and smart hardware startups through its current fund, LUMO Fund II. This multi-stage capital fund, covering pre-seed to series A, incorporates a two-year venture builder programme to help portfolio companies achieve financial success and social impact.
LUMO Labs targets startups aligned with United Nations Sustainable Development Goals, focusing on areas such as AI/data, blockchain, Internet of Things, robotics and drones, and VR/AR.
NEW stands for Netherlands Enabling Water Technology. The NEW-ttt is promoting promising initiatives in the field of water technology. The main themes are water treatment, reuse of water and raw materials, production and shortage of energy from water and smarter management of water systems.
NEW-ttt comprises two pillars: Pillar 1 concentrates on valorising research by establishing (spin-off) companies, while Pillar 2 is dedicated to funding early-stage startups located in the Netherlands.
This dual-pillar approach aims to foster innovation and advancement in water-related technologies with a focus on practical applications and entrepreneurial ventures.
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