- Funding round has been led by Earthworm Group
- The round 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
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
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
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
0207 924 5656
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,
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.