Conservation Labs, a Pittsburgh, PA-based provider of an artificial intelligence (AI) platform that decodes audio data into actionable insights in the built environment to reduce carbon emissions and energy and water usage, raised $7.5M in Series A funding.
The round was led by RET Ventures’ Housing Impact Fund and included the participation of Sustain VC.
The company intends to use the funds to accelerate product development and go-to-market strategies for both of its core products.
Led by Mark Kovscek, Founder and CEO, Conservation Labs is an artificial intelligence company whose edge-to-cloud AI platform decodes the sounds of any object into actionable data. They provide:
- H2know™, which monitors water systems to deliver actionable water insights, leak alerts, and custom conservation recommendations. It is a smart sensor that attaches to water pipes in residential, multifamily and commercial buildings and listens to the sound going through the pipes. Using proprietary machine learning trained on thousands of hours of pipe acoustics, H2know™ translates those sounds into actionable water insights, leak alerts, and custom conservation recommendations. The sensors can monitor individual units or entire buildings, providing remote visibility and insights as well as critical leak alerts.
- Sustainable Machines™, which monitors and predicts the condition of any machine, reducing maintenance costs and extending its life. By interpreting a machine’s sound profile, the product delivers operational insights and predictive maintenance recommendations, thereby reducing maintenance costs and extending the machinery’s life. With early adopters of Sustainable Machines™ generating an ROI over 100% through increased maintenance efficiency and improved uptime, the company has already sold nearly 10,000 sensors across the country.
Commenting on the news, Mark Kovscek said: “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.”
FinSMEs
22/02/2024