FIDO Tech named one of world’s top two innovative tech companies by KPMG

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FIDO’s world-first leak sizing AI has achieved global recognition after being named runner up in KPMG’s first ever Global Tech Innovator contest.

As the UK’s reigning Tech Innovator, FIDO Tech was one of 17 potential future tech titans who took to the stage at Lisbon’s Web Summit on November 2.

FIDO AI, which detects water leaks and leak size in real time from any audio or vibration file, with more than 92% accuracy, has gone from strength to strength after emerging from United Utilities’ successful Innovation Lab in 2019.

Water companies in the UK, Europe, Canada, Australia, Africa, South Africa and the US are now using the technology to find leaks.

The GTI overall winner was Brazilian firm Krilltech AgTech which uses nanobiotech to increase crop productivity and quality.

Kevin Smith, Partner and Global Co-Leader of the KPMG Private Enterprise Emerging Giants Centre of Excellence, said:

“This has been an unprecedented year for KPMG Emerging Giants and the Global Tech Innovator competition. The competition was intense, showing how vibrant and strong the global tech community has become throughout the world with brilliant innovations coming from both mature and emerging markets. 

“Each of these revolutionary companies has gained excellent exposure to industry leaders through the application reviews, online pitch sessions and virtual competitions. We were consistently impressed by the calibre of the companies that took part in the competition and the outstanding innovations they are developing to improve peoples’ lives and businesses across the world. Congratulations to FIDO Tech and all of the country winners that succeeded in reaching the global final.”

Victoria Edwards, CEO and Co-founder of FIDO Tech said:

“FIDO is the water leak detection technology the world needs now. Being named a Global Tech Innovator by KPMG is huge recognition of the power of AI to transform humanity’s response to enormous problems.

“In 2021, one in three glasses of the world’s expensively and carbon-intensively treated drinking water vanishes before it ever reaches our taps. Tackling leaks has to be a top priority for defending our piped communities from Day Zero. It has to happen before or at least concurrently with finding expensive new water sources.

“Until now it’s been too hard to do. More than 90% of leaks never show above ground and the acoustic technology used to find them has relied on human judgement. FIDO AI removes human error and does something no human can – detect the size of leaks just by listening to them. We are sensor agnostic and open data. This is huge. It means utilities can address the leaks that matter on any network – smart or not.

“KPMG judges recognised this potential impact for climate change adaptation and mitigation. It’s a huge validation to be rated in the top two technology firms to watch and great international exposure for FIDO AI.”

“KPMG judges recognised this potential impact for climate change adaptation and mitigation. It’s a huge validation to be rated in the top two technology firms to watch and great international exposure for FIDO AI”

Victoria Edwards, CEO and Co-founder of FIDO Tech