The Venture Codex

Participated · Seed · Jul 2020

StormHarvester is an Ireland-based company that develops an automated water management software platform for wastewater utilities. Its AI platform, launched in 2019, uses machine learning and rainfall forecasting with prediction and anomaly detection to help utilities prevent flooding and pollution. That prediction and anomaly detection approach is now used by 75% of wastewater utilities in the UK. Founded in 2017 by civil engineer Brian Moloney, the company began by modelling relationships between rainfall and drainage networks and won its first formal project with Wessex Water in 2019. The company has seen continuous growth since the platform launch and will use new funding to expand its product range and sales and marketing capabilities. StormHarvester plans to double its workforce over the next three years and accelerate expansion into Australasia and North America while strengthening its UK presence. StormHarvester develops predictive and proactive water-management control systems that use rainfall prediction, forecasting tools and machine learning to optimise network performance, reduce urban flooding and facilitate rainwater reuse. Its technology is used by residential and commercial developments and is being trialled by major utilities in the UK, Belgium and Germany. The company expanded into 19 new markets in 2019 through a partnership with Dutch infrastructure firm Wavin and now operates in 20 countries. Founded and launched in 2017, StormHarvester is backed by venture fund Techstart Ventures and has won multiple industry awards. The company is launching a major recruitment drive to hire software engineers, drainage engineers and expand global sales and marketing, with plans to create 30 new jobs over the next three years. Management plans to accelerate international roll-out, targeting entry into the US, Canada, Australia and New Zealand.

Led · Series A · Jul 2018

Salamander Solutions develops advanced heater systems for the oil and gas sector. Founded in March 2017 as a spinout from Shell and based in Houston, Texas, the company is led by CEO Ben van den Brule. Its heater technology is used for steam-enhanced recovery operations (SAGD, CSS) and to prevent plugging in wells that produce high levels of wax. In April 2018 the company raised $7m in a Series A to provide working capital and to acquire rights to technical information and patents from Shell. As part of the transaction Salamander fully acquired MCAAA Ltd, a UK cable manufacturing facility, to ensure ownership of the solution. The company supplies heater systems and related intellectual property to oil and gas operators.