GreenGen Ventures Announces Investment in Conservation Labs
BETHESDA, MD – October 8, 2020 – GreenGen Ventures, the venture capital arm of Green Generation (GreenGen), today announced it has invested in Conservation Labs, maker of smart water monitor H2know™. The investment was made by a fund under GreenGen’s management.
Founded in 2016 by CEO Mark Kovscek, Conservation Labs’ suite of products and solutions enables cost-effective and sustainable water usage while helping customers protect against costly water disasters. Its flagship product, H2know™, is an affordable smart water monitor that identifies leaks in real-time and can help save 20 percent of water use and water-related expenses.
“Water is becoming an increasingly significant issue for property investors and operators, and it’s been an area of PropTech that’s been traditionally overlooked,” said Brad Dockser, chief executive officer of GreenGen. “We are excited to help Conservation Labs’ innovative approach to maximizing water usage and better managing resources.”
Conservation Labs is a graduate of the Amazon Alexa Accelerator, powered by Techstars. Other investors include Amazon Alexa Fund, RET Ventures, IrishAngels and Serra Ventures.
“We are proud to have an investor like GreenGen on board who inherently understands our unique value proposition, provides valuable market expertise and shares our core belief in creating a more sustainable future,” said Mark Kovscek, founder and chief executive officer of Conservation Labs. “There are more than 3 trillion gallons of unwanted water use each year in the U.S. alone, costing $70 billion, and we are dedicated to utilizing cutting-edge technology to better manage our most valuable natural resource - water.”
This investment follows GreenGen Ventures’ investments within the past year in Wynd Technologies, Datakwip and Senseware.
About Conservation Labs
Founded in 2016, Conservation Labs’ mission is to enable cost-effective and sustainable water use. We invented a way to understand water flow with machine learning. H2know™ by Conservation Labs delivers actionable water insights, leak alerts and custom conservation recommendations with a low-cost, easy-to-install sensor and app. H2know™can help save 20 percent of water use and water-related expenses and identify leaks in real-time. Conservation Labs is a graduate of the Alexa Accelerator, powered by Techstars. Please visit www.conservationlabs.com for more information.