Cary, N.C. – October 12, 2026 -- Subeca has raised approximately $3M in a Series A-2 round to expand its smart water metering hardware and software for utilities, adding to the $6M Series A it closed in 2024.
Burnt Island Ventures, described in the release as the most active venture investor in the global water industry, led the round. Cycle H2O, a water technology venture fund, joined as a new investor. SUEZ, which led the 2024 Series A, also participated, along with several additional investors.
Subeca is live in 23 communities with a bundled meter-and-software package
Burnt Island General Partner Christine Boyle said the firm sees a billion-dollar opportunity in unmet demand for affordable smart meter infrastructure and AI-native software. Subeca currently offers its bundled smart meter plus software package in 23 communities.
The company targets small and medium-sized utilities and hyperscalers with real-time meter data. CEO Anne Mushow said the funding will fuel growth in those segments, where legacy solutions have proven too complex and costly.
Amazon Sidewalk network lets Subeca target 51,000 underserved US utilities
Subeca says more than 51,000 utilities and businesses in the US have been locked out of advanced metering because of the cost and complexity of legacy technology. Its communication module, produced in Cary, North Carolina, runs on Amazon's Sidewalk network. The free network covers more than 90% of the US population and parts of Canada and Mexico. Customers use it to manage water infrastructure and to detect and resolve leaks early.
Cycle H2O opens access to H2O Innovation's municipal and industrial customer base
Cycle H2O invests exclusively in the water sector. Through its partnership with H2O Innovation, one of North America's leading water solutions providers, it gives Subeca access to municipal and industrial water customers, technical expertise and market development opportunities.
Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital, said Subeca's technology helps utilities detect leaks, conserve water and cut operating costs. She said that fits the firm's thesis of backing technologies that accelerate the sustainable transformation of essential industries.
2024 Series A raised $6M with SUEZ and Amazon's Climate Pledge Fund
SUEZ led the 2024 Series A of $6M. Burnt Island Ventures and Amazon's Climate Pledge Fund, Amazon's sustainability-focused corporate venture fund, also invested. Since that round, Subeca has built relationships across water technology, digital infrastructure and utility operations.