London – 15th July 2019 - Hero Labs, a London tech start-up that helps prevent water leaks in UK properties, today announces it has successfully secured £2.5 million in seed funding.
The funding is led by Earthworm Group, an environmental fund manager, with further support from a £300,000 EU innovation grant and private investors. This funding will allow Hero Labs to accelerate development of its first flagship product, Sonic.
Sonic is the UK’s first smart leak defence system. Leaks create more damage to properties in the UK than any other cause – costing UK insurers £1 billion a year1. Fitted easily, in most cases under the sink, it is the only product in the UK to use ultrasonic technology to monitor water use and then spot anything unusual using AI algorithms. It sends an alert in seconds via the Sonic app and it can automatically shut off the water supply to prevent a water leak damaging possessions and property.
Sonic will not only be able to prevent fresh water from being wasted through leaks, but the app will also help people conserve water by giving them helpful hints and tips about which appliances are using the most water, so they can make greener decisions.
Headquartered in London, Hero Labs was founded in September 2018 and has ambitious plans to install its cutting-edge tech into thousands of properties in the UK in next two years. Sonic is for anyone who wants to prevent water leaks in their property – including homeowners, landlords, facilities management, property developers and businesses.
Krystian Zajac founded Hero Labs in 2018, following launching the UK’s first smart home insurer, Neos, which Aviva took a majority share in at the end of 2018.
Krystian Zajac, founder and CEO of Hero Labs, says, “This funding marks a successful first chapter for Hero Labs. Having Earthworm Group as our leading investor is a great fit for us, as it only invests in businesses who are a force for social good or benefitting the environment. Our mission at Hero Labs is to solve real-life problems through tech, and combatting water leaks with Sonic is just the tip of the iceberg. This will allow us to bring even more solutions to consumers and businesses”.
Alongside the funding, Head of Projects and Partnerships at Earthworm, Will Brocklebank, will be joining the board at Hero Labs. Will has a long heritage of developing smart technology that benefits the environment and society.
Will Brocklebank, Head of Projects and Partnerships at Earthworm says, “Earthworm invests in businesses that will bring a positive change for the environment. This is why we chose to support Hero Labs, as we believe it is one of the most exciting companies in this space that will have a real impact on reducing water waste in the UK. Hero Labs has a huge potential to grow to address a pressing environmental issue.”
Notes to editors
Images of Sonic and Krystian Zajac, Founder & CEO of Hero Labs here, can be downloaded here.
Laura West-Wilson / Sam Clayton / Max Foster
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About Hero Labs
Hero Labs is a London tech start-up using cutting-edge technology to combat water leaks in UK homes and businesses. Its flagship product, Sonic, is a smart leak defence system that combats leaks in real time. Fitted easily, in most cases under the sink, it’s the only product in the UK to use ultrasonic technology to monitor water use and then spot anything unusual using AI – from a slow dripping tap, to a burst water pipe. Hero Labs was founded by Krystian Zajac, who launched the UK’s first smart home insurer, Neos.
Earthworm is an environmental fund manager, which only backs projects that will have a positive social or environmental impact. They work closely with industry professionals from power, waste, food and the built environment to source, develop and nurture start-up and scale-up businesses with significant commercial potential. Although it is vital for the companies within the Earthworm community to make a return for our investors, it is equally important that they are ethically driven and they contribute to the circular economy. Members of the Earthworm community share expertise and best practice to support each other and achieve the best return for investors. Earthworm now manages over £100m of investor capital. 10% of Earthworm profits go to charitable causes and 10% is invested directly in the environmental technologies of tomorrow.