Shayp raises €1.9 million for proptech that helps reduce water usage by 20 percent

Shayp tech.eu

Belgian proptech (and sustainability) startup Shayp has raised €1.9 million to scale its intelligent water monitoring system, which it says is helping the City of Brussels save over 50 million litres of water per year. Berlin’s Signa Innovations led the seed round while AMAVI Capital and previous investors finance&invest.brussels joined, as well.

Founded in 2017, the startup assessed that one in three buildings suffer from costly leakages all year round, due to faulty plumbing, leaky toilets and other ‘compromised’ systems.

“The real estate sector accounts for over 70 percent 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 CEO Alex McCormack.

With Shayp’s sensor and software analytics, property owners can reduce water consumption by over 20 percent, the startup claims. The IoT and SaaS combination alerts building staff through an app, alerting them to anomalies and helping prioritise fixes.

In addition to municipal buildings in Brussels, the solution is currently installed in hospitals, offices, retailers, schools and multi-residential buildings.

Photo of founders ©Shayp

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