Heidelberg-based Enzo, a startup defending properties from water harm, has closed a €4 million Seed extension, bringing its whole Seed funding to €6.2 million to develop Enzo’s AI platform, develop partnerships with insurers, and put together for worldwide enlargement.
The spherical was co-led by EquityPitcher Ventures and the Begin-up BW Innovation Fund & MBG BW, with further participation from Silence VC and the affect angel community higher ventures, together with enterprise angels Gloria Seibert, Martina Steiner-Samwer, Peter Krachten, and Robert Levenhagen.
“Our answer delivers twin worth: financial effectivity by means of huge declare price reductions, and ecological affect by stopping pointless repairs and CO₂ emissions,” says Sascha Wolf, Co-founder and CEO of Enzo. “With this new funding, we’ll proceed advancing our know-how, increasing current partnerships, and getting ready for worldwide rollout.”
Enzo’s Seed funding follows comparable early-stage rounds reminiscent of muffintech’s €3.5 million Seed and Afori’s €4 million pre-Seed, each in Germany, highlighting robust home momentum within the sector. Bigger rounds, reminiscent of Baobab Insurance coverage’s €12 million Sequence A in Berlin and Seyna’s €10 million elevate in France, point out continued investor confidence throughout Europe.
Enzo’s concentrate on AI-powered IoT sensors for property insurance coverage enhances these developments by addressing threat prevention slightly than claims administration or brokerage.
“Enzo demonstrates how technological innovation can remedy a billion-euro downside – whereas delivering measurable environmental and financial affect. The staff combines deep business experience with a powerful entrepreneurial drive. These are precisely the sort of Founders we search for at higher ventures,” says Tina Dreimann, Co-founder and Managing Director of higher ventures.
Based in 2021 by Sascha Wolf and Marvin Follmann, Enzo is is a model of SafeHome creating IoT- and AI-based options for the protected and sustainable use of ingesting water in buildings. With its one.drop know-how, Enzo digitally screens water programs and stories defects to minimise harm and water loss.
Its options assist residential insurers decrease declare ratios and promote long-term sustainable water administration.
“Water is likely one of the largest insured dangers – and Enzo presents a singular technological and strategic answer to dramatically cut back the big quantity of claims,” provides Andrea Silberschmidt-Buhofer of EquityPitcher Ventures.
In keeping with the corporate, water harm is the most expensive class in residential property insurance coverage: in Germany alone, such incidents trigger €5 billion in harm yearly. Repairs additionally carry a big burden, involving energy-intensive drying processes, materials substitute, and excessive useful resource consumption.
Enzo’s proprietary, patented sensors might be retrofitted inside minutes with out skilled set up, reportedly attaining 40 occasions increased precision in water harm detection in comparison with typical water meters. Insurers profit from as much as 70% decrease declare prices, whereas property house owners and the setting see considerably decreased useful resource use.
Enzo collaborates with main insurers reminiscent of BarmeniaGothaer, Alte Leipziger, INTER, Hiscox, and SV SparkassenVersicherung. The know-how is already being deployed in a number of international locations.
Frank Hummler, Funding Supervisor at Begin-up BW Innovation Fund, emphasises: “Enzo delivers a wise, end-to-end answer for a urgent problem – particularly for insurers. The mix of patented sensor know-how and AI analytics creates clear differentiation and massive progress potential. Enzo has what it takes to turn out to be a number one participant out there.”
