Emerald spurs next generation of water infrastructure diagnostics with SewerAI investment

Zurich, Switzerland: Emerald Technology Ventures announced Thursday that it has led an investment round in water infrastructure service provider SewerAI, marking a significant new addition to the venture capital firm’s water portfolio. Based in the San Francisco Bay Area, SewerAI leverages advanced artificial intelligence algorithms to enhance sewer infrastructure diagnostics, lowering costs and streamlining operations for municipalities and the contractors and engineers they work with.

Emerald’s water fund, established in 2020, led the round, which also included existing backers Bentley Systems, Builders VC, Epic Ventures, BRIIA and Burnt Island Ventures. Emerald’s flagship fund focusing on industrial innovation also contributed to the deal.

The investment comes amid a burst of energy toward infrastructure modernization, following the recent passage of a major funding bill in the US that is expected to funnel billions to desperately needed water improvement projects. SewerAI intends to add headcount to satisfy growing demand for its services, with ambitious goals to inspect 25 million feet of piping and help cities identify at least 10,000 undiscovered problems in 2022, according to CEO and co-founder Matthew Rosenthal.

Emerald intends to help SewerAI by leveraging its expertise in connecting companies working to solve the hardest technical challenges in sustainable and green infrastructure. Emerald’s extensive network of corporate investors around the world is a major aspect of its appeal, according to Rosenthal.

“We are thrilled to partner with Emerald as we embark on the next chapter of our rapid growth,” Rosenthal said.

“SewerAI provides technology that triples sewer inspection productivity, enabling utilities to address aging infrastructure and compliance cost-effectively,” said water fund head Dr. Helge Daebel, who will also join SewerAI’s board following this funding round. “Its solutions are truly game changing and we’re excited about its prospects in a space ripe for disruption.”

About Emerald Technology Ventures

Emerald is a globally recognized venture capital firm building a sustainable future at the crossroads of industry and technology. Founded in 2000, it is a pioneer in open innovation, providing multi-national corporations with rich deal flow and insight in the sectors and markets of tomorrow. Emerald has managed and advised assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm is dedicated to tackling big challenges in climate change and sustainability via over 500 venture transactions and five third-party investment mandates, including loan guarantees to over 100 start-ups. www.emerald.vc



About SewerAI

SewerAI is a global leader in sewer condition assessment and inspection data management. Based in Walnut Creek, CA, SewerAI leverages its cloud inspection management platform (Pioneer™) and AI Computer Vision tools (AutoCode™) to help wastewater professionals to accelerate productivity, increase accuracy and reduce costs for sewer inspection data. With millions of feet of sewer data under management for municipalities, environmental services contractors and engineering firms, SewerAI is poised to revolutionize infrastructure assessment and improve environmental health for people everywhere. www.sewerai.com