With €4 million in funding, German InsurTech developer Enzo looks to tackle water damage with their novel sensor

German InsurTech startup Enzo has secured a €4 million Seed extension, bringing its total Seed funding to €6.2 million. The funding aims to fuel the development of Enzo's AI platform, expand partnerships with insurers, and prepare for international expansion of their water damage detection technology. This investment highlights the growing interest in European InsurTech solutions focused on risk prevention. Enzo, founded in 2021, utilizes IoT and AI-based solutions, including its one.drop technology, to monitor water systems. Their proprietary sensors offer 40 times higher precision in water damage detection compared to conventional meters, and can be retrofitted quickly. The company claims insurers can benefit from up to 70% lower claim costs. This funding round, co-led by EquityPitcher Ventures and the Start-up BW Innovation Fund, will enable Enzo to address the significant financial and environmental costs associated with water damage. The focus on proactive risk management and sustainable water use affects insurers, property owners, and the environment. Partnerships with leading insurers such as Barmenia and Hiscox highlight the technology's industry acceptance. The investment follows other recent funding rounds in the German InsurTech sector, demonstrating continued investor confidence. With the technology already deployed in several countries, Enzo's focus on AI-driven solutions positions it to become a leader in the market.