Utilis, a San Diego, CA-based satellite-based infrastructure intelligence company, raised $6m in funding.
Beringea, the transatlantic venture capital firm, made the investment.
The company intends to use the funds to continue investing in its innovative products to expand into the ground engineering market, while adding to its team across its offices in the USA, Israel, and the UK, and growing its sales and marketing to accelerate growth in its core markets of the UK, Europe and North America.
Founded in 2013 by Lauren Guy, a scientist focused on atmospheric physics and dynamics studying the ability of space-based synthetic aperture radar (SAR) data to detect underground water on Mars, Utilis provides a solution, harnessing satellites to spot underground leaks in water supplies around the world. The company has 40 employees across its offices in the USA, Israel, and the UK, led by Elly Perets, CEO.
Utilis has scaled to apply its leak detection product to more than 400 projects worldwide, spanning more than 55 countries including the USA, Italy, UK, Chile, China and South Africa. In total, its analytics have verified 30,000 leaks enabling infrastructure and utilities firms to save more than 7,000 million gallons of water, 17,000 MWh of energy, and 11,000 metric tons of carbon dioxide emissions per year.
FinSMEs
25/03/2021