Dune Labs – IoT
What it is:
Dune Labs has developed a water submetering solution based on IoT to measure, analyze, and monetize water usage. The technology can identify the cost of the use of water, allowing tenants to pay for their own actual water use (like how electricity is metered) instead of estimated use. Property owners/managers can receive actionable insights and leak alerts.
Who Made It?
The company, based in Westlake Village, California, was co-founded in 2019 by Garo Sarkissian and Bruce Buchan. Sarkissian has 30+ years of experience in technology. He has led corporate development, M&A, business development, and product development initiatives within public and private companies.
Buchan heads Product Development activities for Dune. He has 25+ years of experience in designing and bringing products to market, including tens of millions of satellite communication devices for the home satellite TV market. He holds multiple patents.
The company raised $3.79M through a combination of Seed, Seed-1 and Seed-2 funding from undisclosed investors on April 11, 2022, putting the company’s pre-money valuation at $20M.
Why we like it:
- Metering water usage like electricity and charging for actual use
- Provides data and leak alerts to management
- Co-Founder Bruce Buchan holds multiple patents and is experienced in product development
Did you know?
An investigation by the Guardian found that in an analysis of 12 US cities, the combined price of water and sewage increased by an average of 80% between 2010 and 2018, with more than two-fifths of residents in some cities living in neighborhoods with unaffordable bills.