The Zurich-based start-up Hades has raised a total of 1.9 million US dollars as part of an oversubscribed financing round, as detailed in a press release. This financing round was led by the venture capital firm 360 Capital, which has offices in both Paris and Milan. In addition, the US venture capital firm Urban US also invested in Hades during the financing round.
Hades is a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH). The company is developing a solution on the basis of a machine learning approach that will allow damage to be automatically recognized in sewer inspection videos. Moreover, the solution will also be able to assist engineers by advising during the repair process.
Following his company’s investment, Nader Sabbaghian from 360 Capital will join the Board of Directors at Hades. According to Sabbaghian, the start-up is excellently positioned to revolutionize the inspection of urban sewer systems. He also highlights the fact that sewers are among the most critical types of infrastructure in the world.
With this fresh capital injection, Hades will be seeking to secure additional growth. The start-up’s aim is to ensure that cities around the world are more resilient.