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A smart-home-water-device startup a day keeps the FOMO away
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Startup of the Year: Daily Dealflow
most promising and innovative startups from around the world.
Daily Dealflow newsletter delivers one seed-stage startup a day, every work day.
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Buoy Labs
Buoy Labs makes a smart home water device that measures and categorizes water usage, with remote shutoff that eliminates 90% of insurance losses from water damage and cuts consumption by up to 10%.
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Buoy Labs is an IoT smart home company for water. Its first product is a connected whole-house flowmeter, with remote emergency shutoff, that measures and categorizes water usage from a single point. Extensive use analysis, leak detection and notifications eliminate more than 90% of insurance losses from water damage, and help homeowners prevent expensive leak damage, end water bill fines, and reduce water consumption by up to 10% — all without changing their lifestyle or landscaping.
Within five years, 40% of U.S. households will find their home water bills unaffordable. Supply shortages and overuse of groundwater are affecting the West and Midwest, and crumbling infrastructure nationwide require an estimated $1T infrastructure investment. Buoy is focusing first on diagnosing and eliminating in-house leaks, which comprise 10% of household water usage. Leak detection systems like Buoy are subsidized by homeowners insurance companies to prevent water damage from leaks, the largest category of homeowner claims.
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📠Location
Santa Cruz, CA
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âš™ï¸ Product Stage
First full release
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ðŸ Industries
B2C, Hardware, IoT
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🤑 Fundraising Status
Actively raising
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📈 Last Funding Stage
Seed
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💸 Total Funding to Date
not disclosed
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Big Wins
- We have a large-scale paid pilot with a top 5 insurance company (scaling to 5,000 units by end of this year).
- Pilots initiating in 2019 to enable HOA sub metering.
- Initial states of participation in rebate programs and strategic partnerships.
- 2018 Fast Company World Changing Ideas finalist
- 2018 CES Innovation Honoree
- 2017 Edison Design Award
- 2017 Fast Company’s Innovation by Design
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Contact the Founder
Keri Waters
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What really matters to startups?
Silicon Valley Bank has launched its 2019 Startup Outlook Survey and wants to hear your opinion on the hottest technologies, biggest business headaches and best sources for startup fundraising, and more. We’ll share the results to highlight opportunities for companies like yours, and with the global tech community and leading policymakers to advocate for change and policies to help entrepreneurs everywhere succeed. Take the survey today; see 2018 report here.
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Established, LLC is not a broker-dealer and cannot provide assurances and makes no representations or warranties as to the timing or price terms for any purchase or sale of early-stage company equity. Nothing contained in this email constitutes investment, legal, tax or other advice. No information or statements contained in this email should be relied upon in making an investment or different decision. You should review all risks and consult all applicable professionals when making any investment decisions. Information and statements contained within this email and any attachments are solely for informational purposes and does not constitute an offer to sell or a solicitation to buy any securities.
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