Utilis secures USD6m from Beringea
Summary
Utilis was founded in 2013 by Lauren Guy, a scientist focused on atmospheric physics and dynamics studying the ability of space-based synthetic aperture radar (SAR) data to detect underground water on Mars. Utilis has scaled to apply its pioneering leak detection product to more than 400 projects worldwide, spanning more than 55 countries including the USA, Italy, UK, Chile, China and South Africa. In total, its analytics have verified 30,000 leaks enabling infrastructure and utilities firms to save more than 7,000 million gallons of water, 17,000 MWh of energy, and 11,000 metric tons of carbon dioxide emissions per year. Utilis, which harnesses a global network of satellites, provides a far more productive system for detecting leaks than traditional methods, which rely heavily upon costly physical sensors or manual checks by engineers. We look forward to growing our product line into new verticals in industries such as transportation and mining to help them solve problems caused by underground water.” Eyal Malinger, Investment Director at Beringea, says: “With worsening climate change, water scarcity is, and will increasingly become, a top national priority for many countries.