Shayp raises €1.9 Million to scale intelligent water-monitoring system for buildings
Brussels. Shayp combines an easy to install sensor with advanced software analytics, allowing property owners to reduce water consumption by over 20%. As water shortages and costs are on the rise, Shayp transforms how the building sector addresses leakages and unnecessary water usage. The Brussels based company successfully completed their Seed Financing Round with new Investors SIGNA Innovations and AMAVI Capital onboard.
Two European venture capital investors specialised in property technologies (PropTech) back Shayp to help accelerate and expand its water saving services across Europe towards private and public real-estate owners. Signa Innovations from Berlin led Shayp’s Seed round with participation of AMAVI Capital from Belgium along with past investors and Finance&Invest.brussels closing the round at 1.9 million euro.
“The team has identified a key trend and has been able to show impressive traction presenting us with a clear growth strategy and exciting opportunity,” says Juergen Fenk, CEO of Signa Innovations.
Water usage is a major concern for the building sector
Founded in 2017, Shayp was quick to assess that 1 in 3 buildings present costly leakages all year round, due to faulty plumbing, leaky toilets and compromised systems. These leakages can account for anywhere between 10% to 60% of the organisation’s water bill since a vast majority go unnoticed or unreported by personnel.
“The real estate sector accounts for over 70% of the water supply, making it a key player in addressing the increasing water shortages we are facing. This is where we want to help and make a difference,” says Alex McCormack, CEO of Shayp.
Pushing the boundaries in simplicity and performance
Shayp helps real-estate owners reduce water consumption in buildings by over 20% simply by addressing leakages and system discrepancies, and providing better control and insights on water usage overall.
By combining a single sensor installed in less than 5 minutes and machine learning techniques, Shayp identifies leakages and system anomalies in real-time across the whole building water supply. An intuitive and comprehensive webapp immediately alerts staff and helps prioritise interventions cost-effectively. Users can track the history of the actions taken, the water saved and identify any further measures to improve water consumption.
“Shayp has developed an industry leading IoT enabled SaaS solution and was able to get an impressive market traction in a very short time period,” Arne Allewaert, Managing Partner of AMAVI.
Verified and proven results for Shayp’s customers
After raising their pre-seed round in April 2018, backed by Belgium based imec.istart & BEAngels, Shayp has helped public and private organisations save hundreds of thousands of euros annually, including municipalities, hospitals, offices, retailers, schools and multi-residential real estate owners. As an example, the City of Brussels set up a large action plan and is now saving over 50 million liters of water per year thanks to Shayp. The Solar Impulse Foundation, founded by Bertrand Piccard, awarded Shayp early this year with the Efficient Solution label after its proven benefits with the City of Brussels. The startup is also part of the Start it @KBC community, the largest startup accelerator in Belgium.
Shayp is a fast growing technology company based in Brussels that provides advanced software analytics for monitoring water consumption in buildings and infrastructures. They help property owners and managers reduce costs and time in relation to plumbing maintenance, water usage and operations thanks to high resolution monitoring and machine learning. Shayp was founded in October 2017 and aims to reduce water demand in the building sector by helping property owners better control water usage across their assets.
The SIGNA Group is a privately managed European investment and industrial holding company active in the real estate, retail and media business sectors. Since its foundation in 1999, SIGNA has succeeded in developing into a company of truly European scale and format. Today, SIGNA is one of Europe’s most important real estate investors and operates a number of reputable commercial concerns.
SIGNA Real Estate employs about 550 people at ten locations in Austria, Germany, Italy, Luxembourg and Switzerland. The Gross Asset Value of the real estate group amounts to 18 billion euros, and the development volume amounts to twelve billion euros.
SIGNA Innovations plays a decisive role in the digitalisation of the real estate market. The company invests in leading early stage start-ups that create new, innovative ideas, platforms and business models within the PropTech, ConstructionTech and CleanTech sectors. SIGNA Innovations leverages its unique know-how and network to help founders scale their companies as well as offering interesting returns, and making SIGNA an innovation leader.
AMAVI is an independent and dedicated Pan-European investor established to support growth of the leading and most promising companies active in the PropTech industry, with a geographical focus on the Benelux, Nordics, Germany, Switzerland and France. AMAVI aims to create a bridge between the traditional real estate industry on the one hand and the most groundbreaking European PropTech companies on the other hand, by leveraging on its combined expertise and network from the real estate, technology and private equity industry. AMAVI partners with the world-shapers, creating companies that radically change the places we live, work and relax in today.