Dutch startup HULO.ai raises €800k in funding. The Netherlands Enabling Water Technology (NEW) Fund and LUMO Labs. The firm creates cutting-edge AI algorithms to address the major globally issue of water loss.
The funds raised from this investment will be put towards improving HULO.ai’s cloud-based solution, which will make it more adaptable and able to meet various global market demands. The company is well-positioned to enter new markets with this funding, focusing on areas where water scarcity and leakage are the biggest problems.
Robbert Lodewijks, Co-founder and CEO of HULO.ai said, “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,”.
Even if HULO.ai is a tiny portion of the solution, it is keen to have this influence. With the help of HULO.ai, water distribution networks can identify and locate leaks in real time, allowing for rapid and efficient remediation.
HULO.ai offers a solution that is more sustainable and efficient by utilising artificial intelligence. It lessens the need for comprehensive physical inspections of the infrastructure, cuts down on water loss, and ultimately helps to preserve one of our most precious natural assets.
Andy Lürling, Founding Partner of LUMO Labs said, “The growing global demand for sustainable water management solutions is as urgent as it is important, 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.”
Boudewijn Hulst, Investment Manager said, “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, 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.”
The team at HULO.ai, which started out in Leeuwarden, the Netherlands in 2021, benefits from the area’s long history in water management as well as its close proximity to the Wetsus Research Institute.
In addition to offering the company access to top-notch people and research, this site places the business in one of Europe’s finest water technology centres. HULO.ai gets assistance in accomplishing the objectives from entities such as Water Alliance and Isle Utilities at the Water campus.