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Droople

The Internet of Water

Switzerland
Market: Real estate, Building, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 11.12.2023
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Idea

Droople decentralizes water monitoring to digitize the 100+ billion water-based assets “off radar” today deployed beyond the main meter. Using our SaaS Big-Data & ML-enabled Water Intelligence Platform, supported by IoT sensor-agnostic devices collecting high-resolution data to unlock green building certifications, operational excellence and enable water-energy savings.

Current Status

We meet the needs of water asset manufacturers, operators and building owners with a scalable & sticky B2B business model based on our cutting-edge proprietary technology and experienced team (5 drooplets). The product-market fit is confirmed via circa 100+ clients (incl. P&G, Walmart, Sodexo, Masco, RATP, Culligan) and 700 re-orders generating 3x YTD revenue vs last year (490K Q3 2023, 138K ARR). Projected 2026 revenues are CHF 20.6M with the SaaS revenue model ensuring high margin repeatable business.

Market

operators and manufacturers of water treatment systems & vending machines within retail, public & hospitality venues, real estate developers & facility managers willing to implement water efficiency & sustainability certifications for commercial & mix-use real-estate portfolios.

Problem or Opportunity

Today, we are still completely blind to what happens after water has passed through the main water meter in any residential, commercial, or industrial building. It’s not about metering water for billing but about actively tracking all the ways we use water in “the last mile” of the grid. This will change how we understand, value, and manage water.

Solution (product or service)

To do so, Droople decentralizes water monitoring to digitize the 100+ billion water-based assets “off radar” today deployed beyond the main meter. Using our SaaS Big-Data & ML-enabled Water Intelligence Platform, supported by IoT sensor-agnostic devices collecting high-resolution data to unlock green building certifications, operational excellence and enable water-energy savings.

Competitors

Do no measure water usage at all and collect manually readings from existing meters at the entry of buildings without any granularity and leverage on them.
IMIQ: https://imiq.life/
flowplan: https://flowplan.io/
Infogrid: https://www.infogrid.io/
Moen: https://www.moen.com/flo
Phyn: https://www.phyn.com/
Robeau: https://www.robeau.tech/en/
Smartvatten: https://www.smartvatten.com/
Sharp: https://www.shayp.com/
Flume: https://flumewater.com/

Advantages or differentiators

ability to deliver quantitative & qualitative parameters of water with retrofit capabilities on any end-points and seamless installation combined with ability to harness high-resolution water data to unlock value-driven insights with multi-point correlations, pattern recognition at the asset, space, and building level.
We are able to connect any water point in the building, provide full transparency on water usage and turn those data into actionable insights to reduce maintenance cost, reduce health risk, reduce water-energy waste and finally get automatic points for green building certifications (BREEAM, LEED, WELL, etc.)

Finance

- 15K for 25 dispensers F + CO2, 10K for hardware, 5K for software for 1-year, Roll-out managed by the customer.
- 50K for 1 mid-size building, 30K for hardware, 15K installation fee, 5K for software for 1-year.
60% of gross margin on hardware and 85% on the software.

Business model

we sell the hardware upfront (100$/unit) and each unit bears a subscription fee of 80$/year where the customer pays less per tier as long as he connects more units on the platform. 30% of our customers commit for 3-5 year and each asset has an LTV of at least 8+ years.

Money will be spent on

60% Sales & Marketing: Sales team consolidation Partner Program Execution
23% Product Development : Hire a strong Machine-Learning profile, Bring NB-IoT iLink to product maturity (150K) for the Water as a Service offering (increasing margin from 30% to 65%)
17% on Working Capital: Hardware Inventory Supply chain sourcing DSO/DPO

Offer for investor

discount depends on the ticket size starting from 5% for 50K (increase of 5% for each additional increment of 50K) at a cap of 10M pre-money valuation. We target a Series A & reaching break-even point by end of 2024.

Team or Management

Risks

Large Client Deal Conversion M,H
•Train the sales team to Miller Heiman methodology
•Sales team coaching to deal with elephants
Manufacturing capacity L, M
•Diversify supply chain, secure components, monitor market trends
Built-in R&D overhead H,L
•Option 1 : Outsource R&D projects & keep project management 
•Option 2 : Hire engineers to only insource design + Pre-series phases
General R&D overhead L,L
•Only develop upon business requirements aligned with our focus
Indirect channel M,M
•Distributor provides a level 1 customer support
•Promotion of white labelling to protect the droople brand
Sales Expertise / Empowerment M,L
•Training the sales / marketing team on water topics / engineering / IoT
Team recruitment M,H
•Next hirings are critical to succeed, leverage best practices
Key Person dependency M,H
•Hire personnel for supply chain, hardware and quality management
•Hire personnel for software architecture orientation / arbitrage
Cyber L,H
•Conduct pen-tests to mitigate cyber risks
IP (copying) L,M
•Pursue the IP assessment, FTO in our target markets, excluding China
Customer support for large clients M,H
•Send trained personnel (insourced or outsourced) for on site installation and customer training

Incubation/Acceleration programs accomplishment

Plug & Play IoT
Venturelab
IMD Scale-up Program

Won the competition and other awards

Plug & Play IoT Batch #8, Swisscom Climat Award, Hitachi Sustainable Challenge, Best 50 Swiss startups to invest in 2020, Grand Prize Switzerland Innovation and more than 10 other awards. please visit our website www.droople.com.

Invention/Patent

This PCT patent WO2019012418A1 has been filed on 10.07.2018 by the Company with the application number PCT/IB2018/055070, by claiming the priority of 10.07.2017 of a previously filed (and not published) PCT patent application PCT/IB2017/054136. It has been published on 07.02.2019 with the publication
number WO19025829. This PCT patent application is entered in Europe only, with the publication number EP3652515A1, and the main claim has been limited when replying in August 2020 to the Written Opinion, to a water management system comprising a turbine located in the centre of a rotating piston. An EP patent
has been granted in 2022. No opposition has been formed against this patent by any third party. It is currently validated in CH, DE, ES, FR, GB and IT.
The second family owned by the Company is reproduced here below: CH718073 A1 / CH20200001466 & WO22106961/ WO2021IB60398. The Company has filed on 17.11.2020 a Swiss patent application with application number CH20200001466.

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video
Presentation