PipeIn, a deep-tech startup that develops innovative solutions for predictive pipeline maintenance, has scored its first €725K pre-seed investment round, aimed at increasing hardware and software development to extend the range of infrastructure protection and the efficiency and safety for personnel.
The investment round was led by RoboIT, the National Technology Transfer Centre for Robotics and Industrial Automation, set up on the initiative of CDP Venture Capital’s Technology Transfer fund, ZERO Accelerator, part of the CDP National Network, with a follow-on promoted by CDP Venture Capital’s Accelerators Fund and LVenture Group, and Pariter Robotics Srl, an investment vehicle dedicated to robotics managed by Pariter Partners.
The new resources, which bring the startup’s total funding to over €800K will enable PipeIn to recruit new key figures for technical development and increase the level of technological maturity underlying the startup’s pipeline inspection and maintenance service.
“On behalf of the entire team, I would like to thank the investors involved for believing in our project. The experience and contribution of CDP Venture Capital, Pariter Partners and LVenture Group will be indispensable to overcome the challenge we face successfully”, says Alessandro Minori, CEO and co-founder. “Moreover, the current climate situation and the consequent demand for solutions that reduce the waste of natural resources confirm that the path we have taken is the right one”.
“Pipeline maintenance is a crucial element in safeguarding the environment, not only to prevent wastage of the water system but also to protect the ecosystem from spills of oil or other harmful substances”, commented Claudia Pingue and Stefano Molino, respectively Head of CDP Venture Capital’s Technology Transfer fund and Accelerators fund, “The high-tech predictive maintenance solution offered by PipeIn, which combines a robotic probe with predictive analysis software, has the potential to meet this need, which is why the ZERO Accelerator, which focuses on start-ups offering new paths for the energy transition, and RoboIT, the National Technology Transfer Pole for robotics, have decided to support the growth of this reality”.
The investment will enable PipeIn to accelerate the market launch of the first commercial version of Shark4, a robot equipped with sensors capable of monitoring the health status of pipes. During the same period, it will carry out a series of pilot projects that are essential for validating a product that must guarantee the highest standards of safety and reliability.
“Our approach is based on fundamental principles such as testing every idea before evaluating it as good or bad. That is why it is important to start the prototyping phase right away, even with rudimentary tools, to gain practical experience at an early stage of development” notes Antonio Misuraca, CTO and co-founder.
Pipein was founded at the end of 2021 and now has a team of 6 people with expertise in mechanics, robotics and data science. Pipein offers a software platform and a hardware device, introducing a new concept of pipe maintenance. The hardware is an automated device placed inside the pipes allowing a complete analysis of their health status. The collected data is post-processed through a predictive AI algorithm and provided to customers in a final report. To date, the startup has filed a patent application with the Politecnico di Milano, which is in the approval phase, and has completed Proof of Concepts with some of Italy’s largest utilities.
The company, based in Turin, took part in the first batch of ZERO, the Cleantech accelerator of the CDP National Network launched by CDP Venture Capital and Eni together with LVenture Group and Elis and supported by corporate partners Acea, Maire Tecnimont, Microsoft and Vodafone. “With this follow-on investment, we confirm our trust in the PipeIn team, which has developed an integrated hardware and software solution for the predictive maintenance of infrastructures that transport natural resources. Ensuring the proper functioning of these facilities, improving their efficiency and reducing waste, is an issue of strategic importance in the energy sector and we believe that PipeIn can play a significant role in accelerating the sector’s green transition”, said Giulio Montoli, Head of Pre-Seed Investments at LVenture Group.