Enzo Raises for its AI Technology for Water Damage Prevention

Heidelberg-based technology startup Enzo has raised 2.3 million euros in a seed financing round. The round was supported by existing investors such as 2bX and Styx as well as a new strategic angel consortium. With the new capital, Enzo plans to further drive its growth and expand its technology for monitoring water pipes in buildings.

AI for damage prevention

Enzo has developed an innovative IoT and AI-based technology that makes it possible to easily retrofit all building types and digitally monitor the water supply. This technology can distinguish normal consumption patterns from anomalies and, in the event of a leak, immediately inform owners or service providers to speed up the repair process. The aim is to significantly reduce the enormous annual damage costs and the considerable loss of drinking water.

“50% of all building damage is caused by defective water pipes. If undetected, defects in water pipes can have devastating consequences” – Sascha Wolf, CEO of Enzo

Enzo is already cooperating successfully with various insurers to reduce their loss ratios. The new funding will be used to expand capacities in order to gain further cooperation partners.

Enzo’s one.drop technology makes it possible to digitally monitor drinking water systems in buildings and automatically report defects in order to minimize damage and water loss. The Enzo brand belongs to Heidelberg-based SafeHome GmbH, which was founded in 2021 by Sascha Wolf and Marvin Follmann.

Prevention instead of reaction

Without preventative measures, the cost of damage caused by defective water pipes in the more than 170 million European buildings is likely to increase significantly. Factors such as ageing infrastructure, rising construction costs and renovation backlogs are contributing to this. Cumulative damage costs for insurers in Europe could amount to over 650 billion euros over the next ten years. Early detection and swift action can reduce up to 70% of these costs.

Source