We are delighted to announce our latest investment in Hero Labs, a London smart-tech start-up looking to tackle water leaks.
This funding round has been led by Earthworm Group, and has been further supported by a £300,000 EU innovation grant and private investors. This will allow Hero Labs to accelerate product development for its flagship product, Sonic, which is disrupting the smart-tech industry.
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 £1bn 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 can prevent fresh water from being wasted, and the app will also help people make greener decisions by giving them helpful hints and tips about which appliances are using the most water.
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. He 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 benefiting the environment. Our mission at Hero Labs is to solve real-life problems through tech, and combating 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.”
- Association of British Insurers, 2015