- Conservation Labs, the maker of the smart water monitor H2know, announced it raised $1.7 million in a seed round of funding
Conservation Labs — a maker of the smart water monitor H2know — announced it has raised $1.7 million in a seed round of funding. This round of funding was led by IrishAngels with additional investment from the Amazon Alexa Fund, Serra Ventures, Mountain State Capital, and Innovation Works.
“The team and I are excited to be working at the intersection of IoT and machine learning to not only make a difference in people’s lives but also create a more sustainable future,” said Mark Kovscek, founder and CEO of Conservation Labs. “Because of our innovative and low-cost approach, we see a path to make a difference in all aspects of water distribution and use across the globe.”
The investment round will enable Conservation Labs to launch H2know — which is an innovative product that monitors water use. And by combining simple technology with machine learning, Conservation Labs invented an affordable way to protect properties from water damage. And their innovation will allow H2know to be one-third the cost of existing products and easily installed in 5 minutes without the help of a plumber.
“Smart water technology is expected to hit $2 billion in the US residential sector alone in five years” added Lauren DeLuca from IrishAngels — who will join the board with the seed round. “As water rates increase, environmental concerns heighten, and consumers grow more accustomed to smart-home devices, we felt now was the time to invest in Conservation Labs and help bring H2know to customers. We are excited to partner with an amazing team of researchers, developers, and co-investors to solve a globally-important problem.”
H2know is going to deliver actionable water insights, leak alerts, and custom conservation recommendations with a low cost and easy to install sensor and app. And H2know can help save 20% of water use and water-related expenses and identify leaks in real-time. Conservation Labs graduated from the Alexa Accelerator, powered by Techstars.
“We know customers want to make smart, sustainable choices about their consumption, and monitoring water resources and utilization is one of the many interesting applications for smart home technology,” explained Paul Bernard, director of the Alexa Fund. “Conservation Labs is taking an innovative approach to this through sound data and machine learning, and we’re thrilled to be reinvesting in the company as part of its seed round. We can’t wait to see what they build in the future.”
