Advised by Walter Billet Avocats on legal aspects, Leakmited raises 5 million euros with the support of Starquest Capital and Banque des Territoires, to deploy its solutions for improving the management of water networks.
Founded in Paris in 2019, Leakmited aims to help drinking water operating services achieve an efficiency of their network greater than 90%. The start-up aims to support communities so that they can drastically reduce this figure.
Three years of R&D allowed the Leakmited teams to build a database, listing 800,000 leaks over 350,000 km of network, and to determine new variables to describe these buried pipes. This considerable database now feeds the algorithm used by the start-up, allowing it to reproduce the process anywhere in France or Europe.
Thanks to this funding round, Leakmited is targeting three major objectives:
- Accelerate its deployment in France, after having been mainly active in the south-west of France and in Rhône-Alpes;
- Continue its international development, by expanding its presence in regions suffering from water stress, such as the Mediterranean basin, but also in countries with strong water regulations such as the United Kingdom;
- Finalize the deployment of its software suite, to offer communities a complete water management tool, allowing network monitoring, leak location, prevention with the detection of priority areas for renovation.
The legal advisers on this deal:
Walter Billet Avocats advised Leakmited, with Fabien Billet, partner, Christophe Cussaguet, counsel, and Amr Akram Abed.
Joffe & Associés assisted the investment funds, with Thomas Saltiel, partner, Clémence Bressolin and Paddy Pascot.