SpaceAge Labs raises US$1.25M in seed funding

The company will launch pilot projects in the water and landscaping sectors across Singapore, Australia and the US to demonstrate the advantages of its Internet of Things and artificial intelligence solutions.

SpaceAge Labs, a provider of remote monitoring, Internet of Things (IoT) and artificial intelligence (AI) solutions, has secured seed funding of US$1.25 million. The start-up will use this seed funding to grow its team, expand internationally and roll out several pilot projects across Singapore, Australia and the US.

The seed funding is led by Silicon Solution Partners (SSP), a venture capital firm supporting deep tech start-ups, and SEEDS Capital, the investment arm of Enterprise Singapore. SpaceAge Labs is also supported by NUS Enterprise, the entrepreneurial arms of the National University of Singapore (NUS), Imagine H2O and PUB’s Singapore Water Exchange.

Tan Kaixin, general manager of SEEDS Capital, said: “SpaceAge Labs’ innovative solutions, which are designed to help businesses in water and landscaping services to monitor their outdoor and remote assets, could potentially help drive their digitalisation journey in the new normal as they create operational efficiencies and additional revenue streams.”

As a deep tech start-up, SpaceAge Labs has attempted to revolutionise operations and maintenance of remote and distributed assets by collecting asset data using low power, long-range wireless IoT devices, together with advanced AI software to generate insights from this data. This, according to the company, increases the asset’s uptime, reduces cost and provides peace of mind for operators to gain asset visibility.

The company’s remoteEye is a complete, sensor-agnostic IoT/AI platform that enables connected operations and maintenance. Key features of remoteEye include rEye IoT Nodes which are wireless devices that read and transmit data from industrial sensors located at the assets; wireless networks to support the transmission of sensor data to the cloud; and the rEye Data Cloud software that stores, analyses and visualises sensor data.

While remoteEye can be installed in various sectors, SpaceAge Labs is initially targeting three sectors – water and wastewater, urban greenery and landscaping, and facilities management. The company has IoT deployments with more than 30 customers, including two smart nation pilot projects in Singapore – one with National Parks Board to digitalise grass-cutting operations to improve contractor efficiencies, and the second with PUB, Singapore’s national water agency to monitor for manhole overflow events in the republic’s wastewater network.  

SpaceAge Labs will also continue to embark on more pilots, to demonstrate the advantages of its remoteEye IoT solution, as well as find new customers and partners. In H1 2022, the company will conduct pilots with landscaping companies in Australia to improve the efficiencies of their grass-cutting work in Brisbane and Sydney. Similar landscaping pilots will be conducted in the US in H2 2022.

In Singapore, SpaceAge Labs has planned to conduct several pilots, which will monitor water consumption patterns and detect leaks in facilities, monitor weather and air quality in outdoor spaces, monitor water quality in swimming pools and water play areas, and monitor remote mechanical and electrical equipment, such as decentralised water treatment skids and water tankers.