Welcome HeyEnzo
We’re excited to welcome HeyEnzo as the newest portfolio company at EquityPitcher Ventures!
The Heidelberg-based startup has successfully closed a €4M Seed Extension funding round. Co-leads of the round are EquityPitcher Ventures and the Start-up BW Innovation Fund & MBG. Also participating are Silence VC and the impact angel network better ventures.
Water damage: billions in costs and a high CO₂ footprint
Water damage is the most expensive type of damage covered by home insurance: in Germany alone, it costs €5 billion annually. At the same time, repairs cause considerable environmental damage—through complex drying processes, the replacement of building materials, and other resource consumption.
Enzo's AI-powered IoT solution monitors buildings in real time and detects water damage at an early stage. The proprietary, patented sensors can be retrofitted within minutes without the need for tradespeople and make the detection of water damage 40 times more accurate than conventional water meters. Insurers benefit from up to 70 percent lower damage costs, while building owners and the environment benefit from significantly lower resource consumption.
“Water is one of the biggest insured risks and Enzo is opening up a unique solution, both technologically and strategically, to massively reduce the enormous amount of damage.”
Traction in the insurance market
Enzo already works with leading insurers, including BarmeniaGothaer, Alte Leipziger, INTER, Hiscox, and SV SparkassenVersicherung. The technology is already in use in several countries.
“Our solution offers double value: economic value through the reduction of massive insurance claims, and ecological value through the avoidance of unnecessary repairs and CO₂ emissions. With the new financing, we will further develop our technology, expand existing partnerships, and prepare for international rollout.”
