Shayp’s technology combines a single sensor with machine learning and advanced analytics and has already been used by the City of Brussels to help save 50 million litres of water per year.
The Brussels-based tech company Shayp has raised €1.9m in seed financing to scale its intelligent water-monitoring system for buildings.
The company’s technology combines a single sensor with machine learning and advanced analytics. Shayp claims it allows property owners to reduce water consumption by more than 20 per cent. It has already reportedly been used by the City of Brussels to inform a major action plan that is saving the Belgian capital more than 50 million litres of water per year.
The two European venture capital investors Signa Innovations (Berlin) and Amavi Capital (Belgium) specialise in PropTech and want to help Shayp accelerate and expand its water-saving solutions to public and private sector real-estate owners across Europe.
“The real estate sector accounts for over 70 per cent of the water supply, making it a key player in addressing the increasing water shortages we are facing”
According to Shayp, one in three buildings suffer from costly leakages all year round due to problems such as faulty plumbing and compromised systems. These leakages can account for anywhere between 10- and 60 per cent of the organisation’s water bill since a vast majority go unnoticed or unreported by personnel.
“The real estate sector accounts for over 70 per cent of the water supply, making it a key player in addressing the increasing water shortages we are facing,” said Alex McCormack, CEO of Shayp. “This is where we want to help and make a difference.”
Shayp, which was founded in 2017, said its sensor can be installed in less than five minutes and uses machine learning techniques to identify leakages and system anomalies in real-time across the whole building water supply. A web app immediately alerts staff of any problems. Users can track the history of the actions taken, the water saved and identify any further measures to improve water consumption.
After raising its pre-seed round in April 2018, backed by Belgium based imec.istart and BEAngels, Shayp has worked with public and private organisations including municipalities, hospitals, offices, retailers, schools and multi-residential real estate owners.
The Solar Impulse Foundation, founded by sustainable development champion Bertrand Piccard, recognised Shayp with the “Efficient Solution” following its work with the City of Brussels.
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