Pennsylvania-based Conservation Labs, a company focused on enabling cost-effective and sustainable water use through AI, announced that it has secured $7.5M (approximately €6.93M) in a Series A round of funding.
Founded in 2016, Conservation Labs is an AI company dedicated to sustainability. Its edge-to-cloud AI platform translates object sounds into actionable data.
The company’s first product, H2know, monitors water systems for insights and leak alerts. Their second product, Sustainable Machines, predicts machine conditions, reducing maintenance costs. Conservation Labs contributes to sustainability in the built environment.
Investors supporting Conservation Labs
The investment was led by RET Ventures’ Housing Impact Fund, with participation from Sustain VC.
Christopher Yip, Partner at RET Ventures says, “Conservation Labs’ innovative approach to water conservation provides an operational edge to its clients, and the real estate market opportunity for H2know is massive.”
“With our investment, Conservation Labs will be fast-tracking its product development and go-to-market strategies for both of its core products.”
“We’re excited to collaborate with Mark and the entire leadership team as they continue developing new commercial applications for their breakthrough technology,” adds Yip.
RET Ventures, a real estate tech VC, invested in Conservation Labs’ Series A through its Housing Impact Fund. This fund focuses on companies helping real estate firms in addressing ESG needs and boosting operational efficiencies for property management and leasing teams.
What does Conservation Labs offer?
Conservation Labs, driven by a commitment to environmental responsibility, created H2know, a flagship product focused on water conservation.
With over 5 trillion gallons of unnecessary global water usage contributing upto 3 gigatons of CO2 emissions and energy consumption, the company aims to address this issue, saving both expenses and resources for building owners and residents.
Conservation Labs claims to tackle water conservation with innovation. In 2021, they introduced H2know, a smart sensor affixed to water pipes in various buildings.
By listening to pipe sounds and using proprietary machine learning, trained on extensive pipe acoustics data, H2know translates these sounds into actionable insights, leak alerts, and personalised conservation recommendations.
The sensors can monitor individual units or entire buildings, offering remote visibility and crucial leak alerts.
Capital utilisation
Mark Kovscek, founder and CEO of Conservation Labs says, “Since unveiling H2know in 2021, we are helping clients reduce their water use by 20 per cent or more, but the larger impact of our technology has been even greater.”
“In a typical building, water is one of the largest consumers of energy; by reducing water usage our technology has also enabled buildings to cut their energy costs in a significant way.”
“With this funding in hand, we’re excited to accelerate H2know deployments as well as build out other product lines that leverage our AI-powered edge to cloud platform.”