WEGot Receives Funding Worth $2million
WEGoT’s sensor-based Internet of Things (IoT) device and a software platform VenAqua, helps to reduce the demand for water by more than 50 percent by tracking real-time flow. The granular data collected from various installations across residential and commercial buildings are analyzed and the insights are shared with the end-users on a mobile app. The solution is subscription-based, wherein the company gives the product free and users pay a nominal monthly fee of Rs 149 (Residential) / 20 paise per sq.ft apart from installation charges. “We see billboards and messages to save water everywhere, but nobody gives you an idea of where to start - a quantifiable and actionable way to do so. This is because we do not have access or insight into the right data to take the next step. Traditional water meters detect air passing through pipes that cause errors in reading. In addition, leakages, abnormal usages & open taps are not detected by traditional water meters. WEGoT has developed a high precision smart water meter that can provide data, which is of interest to multiple stakeholders: utilities, homeowners, insurance companies, maintenance providers, facility managers, government organizations, research foundations. Our solution is compatible with existing plumbing design and can be customized based on the requirement and helps reduce the demand for water drastically.” said Vijay Krishna, CEO, and Co-Founder of WeGot.
The team said that because water is priced cheaply compared to other resources like electricity or fuel, we don’t take cognizance of the possible water crisis in the future. "Water conservation will be a major issue in the coming years and we have an immense growth opportunity by helping design more water-efficient buildings. Our vision is to change the way people and buildings use and experience this precious resource by implementing our smart water management solution across a million houses and save 10 billion liters of water in next two years. Our funding from such prominent investors is just a testimony of that belief,” said Abilash Haridass, Co-Founder and Chief of Growth & Strategy of WEGoT.