Subeca, an Internet of Things (IoT) startup that offers low-cost and easy-to-use water technology, announced it raised $6 million in Series A funding. The Series A funding round was led by SUEZ, a leader in digital and circular solutions in waste and water services, with participation from Amazon’s Climate Pledge Fund (Amazon’s sustainability-focused corporate venture fund) and Burnt Island Ventures (a leading water sector-focused venture investor).
Subeca built an intelligent water meter register that retrofits most existing water meters in under a minute, making dumb meters smart. For water utilities, this reduces the cost of meter reading operations while vastly increasing the amount of available data and insights for them and their customers. Subeca does this through their smart meter register (called PIN) devices, which are instantly connected to the AWS cloud via Amazon Sidewalk.
Subeca’s differentiated end-to-end IoT offerings provide easy-to-deploy options for the 40,000+ utilities and businesses in the US that have been locked out of the benefits of advanced metering and sensing technology due to the cost and complexity of legacy technology solutions. Produced in Richardson, Texas, Subeca’s Blinc IoT module utilizes Amazon’s Sidewalk network—a free communications network that covers more than 90% of the US population- to help customers manage water infrastructure and detect and resolve water leaks.
Subeca was also recently selected as one of ten startups out of over 200 global applicants for the prestigious ImagineH2O Accelerator.
KEY QUOTES:
“The funding will allow Subeca to rapidly scale to meet market demand for our flagship AMI solutions, particularly in small to medium sized utilities and companies that have been underserved by incumbents.”
– Patrick Keaney, Chief Executive Officer of Subeca
“Subeca offers a simple and secure service that helps Amazon, AWS, and our utility partners gather timely and reliable data to manage water use without relying on traditional cellular or building network infrastructure. We’re excited to work with Subeca as we continue to improve the efficiency of water use in the communities where we operate as well as across our own operations, helping AWS make progress to meeting water positive by 2030.”
– Beau Schilz, Senior Manager for Water in the Americas, AWS
“Subeca has developed a disruptive smart metering solution that will provide access to a previously underserved tier of utilities in the US. SUEZ, a leading provider of smart water metering solutions with more than 6 million units deployed worldwide, intends to leverage its expertise to support Subeca in scaling its offerings and go-to-market strategy. We believe in the vision of Subeca’s exceptional leadership team and look forward to supporting their evolution in the market.”
– Joshua Cantone, Managing Director of SUEZ Digital Solutions for North America
“Affordability challenges have stalled the adoption of smart metering across the US and globally. Subeca’s simple customer interface and integration with Amazon Sidewalk allows a new segment of water utilities to join the digital revolution. We are excited to work with the Subeca team to bring this technology to market.”
– Christine Boyle, Partner at Burnt Island Ventures
