SKion Water invests into water leak detecting AI specialist FIDO TECH Ltd.
Oxford / Bad Homburg v.d.H.
UK-based software firm FIDO Tech Ltd. today announced its acquisition by SKion Water GmbH and a follow-on investment led by Emerald Technology Ventures to accelerate growth of its disruptive water leak technology.
The investment will allow the rapid scaling and adoption of its pioneering artificial intelligence FIDO AI which accurately detects, sizes and locates water leaks in real-time on any pipeline network. FIDO AI is a totally sensor-agnostic data-as-a-service technology which optionally includes free, easy to deploy sensors – giving it the potential to transform leakage outcomes even in the majority of global water networks with no existing digitisation.
Since emerging from UK water company United Utilities’ Innovation Lab in 2019, FIDO Tech has been named a top UK and Global Tech Innovator by KMPG and its technology is now used on five continents, having amassed what is believed to be the world’s largest and growing data library consisting of more than 2.5 million leak and non-leak samples and achieving an accuracy rate of over 92%.
Read more in the attached press release.
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