HULO.ai, a startup from the Netherlands specializing in sophisticated AI algorithms for water loss reduction, has raised €800K from LUMO Labs and the NEW (Netherlands Enabling Water Technology) Fund.
Originating from the Wetsus Research Institute, HULO.ai plans to upgrade its cloud-based platform, focusing on scalability and customization for diverse global markets.
The company intends to use this funding to broaden its reach, focusing on areas suffering from severe water scarcity and leakage issues.
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Real-Time Leak Detection in Water Supply Networks
UNICEF’s forecast that water scarcity may affect half the global population by 2025 underscores the need for solutions like those offered by HULO.ai. The company’s sophisticated AI technology specializes in the immediate detection and pinpointing of leaks in water distribution systems.
HULO.ai’s system has been thoroughly evaluated and proven effective in Dutch water utilities, benefiting from the Netherlands’ advanced water management expertise. This technology streamlines interventions and reduces the need for extensive manual inspections, effectively curbing water loss and aiding in water conservation.
Co-founder and CEO Robbert Lodewijks of HULO.ai expresses enthusiasm about advancing sustainable water management. He emphasizes the importance of both the financial support and the invaluable knowledge that their investors bring, which is crucial for the company’s ambition to make a global impact.
Tackling the Issue of Water Shortage
HULO.ai is dedicated to solving global water issues through collaboration and creating value. The company’s founders highlight the significance of strategic partnerships in enhancing awareness in the water sector.
Located near the esteemed Wetsus Research Institute, HULO.ai benefits from being in a region renowned for its water management heritage. This proximity grants them access to top-tier research and talent.
The company’s location in one of Europe’s prime water technology hubs, alongside organizations like Water Alliance and Isle Utilities at the Water campus, supports HULO.ai in fulfilling its objectives.
Boudewijn Hulst, Investment Manager, notes, “The NEW (Netherlands Enabling Water Technology) fund commits to funding startups in the water technology sector, propelling innovative water technology ventures.”
He adds, “Our focus includes the intelligent and efficient handling of water systems. HULO.ai aligns well with this goal. The increasing loss of potable water due to leakages and poor infrastructure management is a critical issue in a world facing clean water scarcity.”
“HULO.ai’s innovation allows businesses to save not just money but, more crucially, water. We are thrilled to partner with LUMO Labs to support the growth and proliferation of HULO.ai’s impactful technology,” Hulst concludes.
Overview of LUMO Labs and NEW-ttt Initiative
LUMO Labs champions the principles of data self-governance, transparent data ownership, and the traceability of technologies.
As a venture capital entity, LUMO Labs invests in impact-oriented software and smart hardware startups via its LUMO Fund II. This diversified-stage capital fund, ranging from pre-seed to Series A, includes a two-year venture builder program to guide portfolio companies towards both financial success and meaningful social impact.
LUMO Labs primarily supports startups that align with the United Nations Sustainable Development Goals, with a focus on sectors like AI/data, blockchain, the Internet of Things, robotics and drones, and VR/AR.
NEW, standing for Netherlands Enabling Water Technology, and its component NEW-ttt, are committed to advancing innovative water technology projects. Key areas include water treatment, water and raw materials reuse, energy generation and conservation from water, and smarter water system management.
NEW-ttt encompasses two main objectives: Pillar 1 focuses on turning research into value by creating (spin-off) companies, and Pillar 2 aims at financing early-stage startups in the Netherlands.
This approach is designed to stimulate innovation and progress in water technology, emphasizing practical implementation and entrepreneurial development.
