Subeca Raises $6M Series A to Scale Deployment of Low-Cost, Easy-to-Use Water Technology
RICHARDSON, Texas, May 20, 2024 /PRNewswire/ -- Subeca, an innovative internet of things (IoT) startup that provides low cost and easy to use water technology, raised $6M in Series A funding.
The Series A was led by SUEZ, a global leader in digital and circular solutions in waste and water services, with participation from Amazon's Climate Pledge Fund, Amazon's sustainability focused corporate venture fund, and Burnt Island Ventures, a leading water sector-focused venture investor.
"The funding will allow Subeca to rapidly scale to meet market demand for our flagship AMI solutions, particularly in small to medium sized utilities and companies that have been underserved by incumbents," said Patrick Keaney, Chief Executive Officer of Subeca. Subeca's differentiated end-to-end IoT offerings provide simple, easy-to-deploy options for the more than 40,000 utilities and businesses in the US that have been locked out of the benefits of advanced metering and sensing technology due to the cost and complexity of legacy technology solutions. Produced in Richardson, Texas, Subeca's Blinc IoT module utilizes Amazon's Sidewalk network, a free communications network that covers more than 90% of the US population, to help customers manage water infrastructure and detect and resolve water leaks.
"Subeca offers a simple and secure service that helps Amazon, AWS, and our utility partners gather timely and reliable data to manage water use without relying on traditional cellular or building network infrastructure. We're excited to work with Subeca as we continue to improve the efficiency of water use in the communities where we operate as well as across our own operations, helping AWS make progress to meeting water positive by 2030," said Beau Schilz, Senior Manager for Water in the Americas, AWS.
"Subeca has developed a disruptive smart metering solution that will provide access to a previously underserved tier of utilities in the US," said Joshua Cantone, Managing Director of SUEZ Digital Solutions for North America. "SUEZ, a leading provider of smart water metering solutions with more than 6 million units deployed worldwide, intends to leverage its expertise to support Subeca in scaling its offerings and go-to-market strategy. We believe in the vision of Subeca's exceptional leadership team and look forward to supporting their evolution in the market."
"Affordability challenges have stalled the adoption of smart metering across the US and globally. Subeca's simple customer interface and integration with Amazon Sidewalk allows a new segment of water utilities to join the digital revolution. We are excited to work with the Subeca team to bring this technology to market," said Christine Boyle, Partner at Burnt Island Ventures.
Subeca was recently selected as one of ten startups out of over 200 global applicants for the prestigious ImagineH2O Accelerator.
Learn more about Subeca at www.Subeca.com.
Media Contact:
Patrick Keaney
800-366-2271
SOURCE Subeca
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