SNUPI's Water Leak Detector
Published on by Water Network Research, Official research team of The Water Network in Business
SNUPI Technologies, the University of Washington Spin Out HasScored $2.2 millionin Additional Financing as Part of $3 Million Convertible Debt Round
The funding, largely provided by existing investors such as Madrona, WRF Capital and Seattle area angel investors,brings total funding in the company to $11.5 million.
Jaech says that SNUPI — which is developing theWallydevice to detect water leaks near toilets, showers, water heaters and other devices in the home — plans to head out for a larger series B financing round early next year. "We are giving ourselves more runway," said Jaech, who previously co-founded Visio (sold to Microsoft) and Aldus (sold to Adobe).
Jaech said demand is strong for the $299 system, with the company recently getting picked up for sale on Amazon.com. Other distribution channels are in the works, with a slate of announcements set for the fall and winter.
Wally is a unique device.
No batteries are needed, with the system set to work continuously for 10 years. It does this by bypassing traditional Wi-Fi and Bluetooth connections, instead using the copper wiring in the walls of a home as an antenna.
The Insurance Information Institute estimated that 14 million homeowners suffered from damage due to water, freezing and mold in 2011, which resulted in $11 billion in property loss.
Started with technology from the UW and Georgia Tech,SNUPI is an acronym that stands for Sensor Network Utilizing Powerline Infrastructure.
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