Mr. Abilash Haridass , Co-Founder & CEO ,WEGoT Utility Solutions
Please brief us on the Growth story of WEGOT and how CBRE has helped propel this growth further.
WEGoT Utility Solutions has witnessed a progressive growth trajectory since its establishment in 2015. Founded to combat water scarcity, the company’s IoT-based water management system has gained widespread adoption. Utilizing IoT and data analytics, WEGoT’s smart water solution tracks real-time consumption, empowering users to make informed choices. This technology, employing embedded water meters, IoT-based ultrasonic sensors and cloud tracking, is now used in 70,000+ homes and 40 million sq. ft. of commercial space, collectively helped save 6 billion + litres of water, so far. We are operating in 7 cities in India with a client base of 300+.
Our experience at CBRE DisrupTech 2019 was truly enriching and transformative, providing an invaluable platform to showcase our IoT based smart water management technology. Winning the challenge bolstered our credibility further, facilitated strategic partnerships, and accelerated our growth prospects for innovation in the Proptech space.
Since 2019, WEGoT experienced significant growth in client acquisitions, business expansion, funding, and overall revenue. Winning CBRE DisrupTech enhanced credibility, attracting more clients and investors. The company diversified into the residential sector and received awards for its positive social and environmental impact. Through Disruptech, WEGoT was able to solidify its position as a leading Proptech player
How have things changed for WEGoT, in terms of client acquisitions, business expansion, funding and overall growth etc. since 2019?
Since 2019, WEGoT Utility Solutions has undergone a significant transformation. The spectrum of clients has broadened to encompass residential, commercial, and industrial domains, catering to IT Parks, hotels, factories, hospitals and educational institutions.
We have indeed undergone significant technological and strategic evolution. The exposure and feedback received at DisrupTech led to advancements, enhancing accuracy and efficiency. WEGoT also prioritized seamless integration with existing systems, expanded its operations globally, and adopted a customer-centric approach, resulting in stronger client relationships and higher satisfaction. Moreover, the company’s focus on sustainability and corporate social responsibility has led to promoting water conservation and emphasizing its positive environmental impact. Overall, the experience at DisrupTech acted as a catalyst for continuous growth and innovation in the smart water management sector.
Regarding the funding, in 2019, we raised $2 million in a seed funding round, followed by an additional $1.5 million in 2021. These investments have aided the financial requisitions that we needed to realize our ambitions, invest in technological advancements, and penetrate new markets effectively. Backed by strong investors such as HDFC, Brigade Enterprises and GoFrugal, WeGot has been able to upscale its business while maintaining strong financial performance.
What kind of tech solutions is the start-up working on currently?
WEGoT Utility Solutions is at the forefront of innovating and developing tech solutions for efficient water utility management. Our simple yet futuristic metering system can help build sustainable water practices in multi-unit apartments, commercial complexes, and industrial buildings.
Our flagship product, WEGoT Aqua, utilizes IoT-powered ultrasonic sensors for precise water measurement, integrated with cloud-based tracking. This provides real-time analytics and alerts via user-friendly apps, promptly identifying leaks and theft for improved water conservation.
Our ongoing efforts are directed towards to enhancing these solutions, empowering users with accurate data for proactive resource management and conservation.
Any change in perception/engagement from potential clients and prospects post your achievement with disruptech event?
Since the association with CBRE DisrupTech, WEGoT resolved technological advancements, enhanced client retention, gained sustainability recognition, enabled data-driven decision making, attracted investors, and expanded globally.
The recognition at CBRE DisrupTech also had a transformative impact on WEGoT’s perception and engagement with potential clients. The achievement enhanced credibility, trust, and provided an opportunity to engage with renowned industry leaders and decision-makers. This achievement has solidified WEGoT’s reputation, accelerating our journey from an emerging startup to a trusted and reputed player in the field smart water management.
Please share the future plans of your company with our readers. Where do you see your company in coming years?
Our vision is to accelerate sustainable water practices and resource efficiency through the adoption of our water management solutions, and we will continue to focus on expansion by enhancing product penetration. Technological advancements remain pivotal, with continuous refinement of our IoT-based systems and exploration of new avenues. Strategic collaborations with like-minded organizations will amplify our impact, pooling resources for addressing water scarcity and resource challenges.
Through strategic funding, we aim to further expand our footprint. In essence, WEGoT Utility Solutions aims to be a driving force for positive change, fostering sustainable practices and resource efficiency across diverse sectors.