HULO.ai secures €800K investment for AI to battle large-scale losses of drinking water
Press release November 30, 2023
EINDHOVEN, the Netherlands – LUMO Labs and the Netherlands Enabling Water Technology (NEW) Fund have invested €800,000 in Wetsus Research Institute spin-off HULO.ai. The startup develops advanced AI algorithms to tackle water loss, a critical global challenge.
The funds from this investment will be used to enhance HULO.ai’s cloud-based solution, making it highly scalable and adaptable to different market needs around the world. With this investment, the company is poised to expand into new markets, targeting regions where water scarcity and leakage are most critical.
As UNICEF stated, half of the world’s population could be living in areas facing water scarcity by as early as 2025 if we do not act quickly. HULO.ai is only a small part of the solution but eager to make this impact. HULO.ai offers a cutting-edge AI solution that detects and localizes in real-time water leakages within water distribution networks, enabling efficient and timely interventions.
The solution is backed by research and validations at Dutch water utilities. The Netherlands, known for its advanced water management systems, serves as the perfect proving ground for HULO.ai’s innovative approach to a long-standing problem. By leveraging AI, HULO.ai introduces a solution that is not only more efficient but also more sustainable. It minimizes the need for extensive physical infrastructure checks, reduces water loss and ultimately contributes to the conservation of one of our most precious natural resources.
“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,” said Robbert Lodewijks, Co-founder and CEO of HULO.ai.
“The growing global demand for sustainable water management solutions is as urgent as it is important,” said Andy Lürling, Founding Partner of LUMO Labs. “We are drawn by HULO.ai’s potential to lead and transform the water management industry on a global scale with its cutting-edge AI technology.”
HULO.ai’s founders are strong believers that this global challenge requires parties to join forces and create value together. HULO is set on raising awareness in the water industry and continuously looks for strategic partners that share the same mission.
Sven Bakkes, Founding Partner of LUMO Labs said, “We look forward to being part of HULO.ai’s journey ahead. The spirit and talent of the founders and the company’s proven track record of innovation and collaboration are key aspects of their unique potential to create real and sustainable impact.”
Based in Leeuwarden, the Netherlands, HULO.ai’s team benefits from the region’s rich heritage in water management and its proximity to the Wetsus Research Institute. This location not only provides access to world-class research and talent but also situates the company in one of Europe’s most innovative water technology hubs. Organizations like Water Alliance and Isle Utilities at the Water campus help HULO.ai in achieving the goals.
“The Netherlands Enabling Water Technology (NEW) fund is dedicated to investing in startups active in the water technology sector and thereby advancing and commercializing innovative water technology initiatives,” said Boudewijn Hulst, Investment Manager. “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.”
“I am proud of the team. Getting these investors on board gives us the credibility and confidence we need to achieve our mission to save the mind-blowing equivalent of 4,000,000,000 Olympic swimming pools filled with fresh drinking water,” said Rudy Dijkstra, Co-founder and CBDO of HULO.ai.
Portfolio profile HULO.ai