By Victor Shikoli, CEO HydroIQ
A. Introduction
HydroIQ originated with a simple, but buzzwordy, value: to modernize how water utilities manage their resources using data processing, over what was then an archaic model of the physical world. Six years later, we have matured from an idea into a full-fledged company with global leadership in smart IoT and data-driven water management technologies. But 2024 was a pivotal year — a year we transitioned between our gears and aligned our ambitions with the requirements of a crucial pipeline market that is just starting to warm to the future of advanced technology in water infrastructure.
HydroIQ takes a look back on a year of phenomenal accomplishment and transformative progress as 2024 finally wraps up. Scaling partnerships, and enabling state-of-the-art tech, our efforts have cemented our position within smart water solutions across Africa, and a pledge to continue disrupting traditional water management. This is a year of recalibration, resilience, and intentional execution that sets the stage for an exceptional 2025.
B. Reaffirming Relationships and Expanding Opportunities
HydroIQ — 2024 has been a pivotal year for building and solidifying key partnerships. Notable highlights include:
Sidian Bank & USAID Western Kenya Water Project: HydroIQ took a leading role in the Kakamega Investment Conference 2024. This is crucial as we expand partnerships with Kakamega Urban and Rural Water Utilities to digitize and improve the management of water across the region.
WASPA Participation: HydroIQ was actively engaged in various Water Services Providers Association (WASPA) events, such as forums in Mombasa and Kisumu, as well as a presentation during the 100th bimonthly meeting held at Sentrim Resort, Lake Elementaita, hosted by Nakuru Rural Water and Sanitation Company. We have been able to increase credibility and visibility with the primary market leaders and stakeholders through these platforms, resulting in a growing interest in partnering with us.
HydroIQ Tanzania Expansion Plan: To commercialize its regional growth ambitions, HydroIQ is leveraging existing relationships to establish a low-overhead presence in Tanzania. As Tanzania increasingly demands innovative solutions to manage its water resources, it offers an excellent market for the deployment of HydroIQ’s innovative technology.
C. Innovation-Driven Accelerated Growth
HydroIQ keeps moving forward with innovation by combining advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), and IoT into water management. Key advancements include:
Smart Billing Processes: Automated billing processes help achieve 99% billing accuracy and remove discrepancies to improve revenue retention.
Dynamic Asset Monitoring: Using AI-driven systems to optimize water distribution, help detect inefficiencies, and provide actionable insights in real-time.
Predictive Analysis: ML models provide utilities with predictive maintenance capacity, which allows for downtime reduction of up to 40%.
Data-Driven Insights — A Customer-Centric Approach: Not only do these innovations improve the distribution of water, but they also reduce non-revenue water by up to 30 per cent, an essential indicator for sustainable water management.
D. Demonstrating Success on a World Stage
Our collective journey is bigger than the borders. HydroIQ won success with a landmark pilot project in Guatemala, where we partnered with a century-old cement manufacturer involved in the development of a smart city. This project exemplifies how HydroIQ is adaptable and deployable in varying environments, enhancing the fact that our impact is both scalable and sustainable.
E. Increasing Market Effect and Financial Resilience
HydroIQ is successfully extending its business by working with water utilities, real estate developers, and communal water projects. This strategic direction is coupled with a live fundraising campaign aimed at raising substantial capital for expansion and scaling. Although details are undisclosed, we aim to drive innovation, consolidate our position in the market and extend our reach throughout East Africa and beyond.
2024 has become a year in which we have honed our financial wisdom. Data points — Net Revenue Retention (NRR), Annual Recurring Revenue (ARR), and Customer Lifetime Value (CLV) — have influenced our strategic choices focused on operational efficiency, investor trust, etc.
F. Leading by the Moment: Building a World of Opportunities
My vision for HydroIQ has focused heavily on taking actionable steps to better understand and refine the fundamentals of our business to attract financing and scale sustainably. That has, of course, involved digging into the details of burn rates, runways, CAC payback periods, gross margins, etc. Based on these insights, HydroIQ is well-positioned to challenge the competitive market and also ensure that its solutions stay impactful and relevant.
I’m especially looking forward to our venture into AI and ML technologies which will transform the way that water utilities operate, manage infrastructure and engage with customers. Then we are also looking at infrastructure insurance so that water utility assets are protected to provide them with long-term sustainability and resilience.
G. Looking Forward: 2025 and the Future
The path to 2025 is full of possibilities. HydroIQ aims to:
Develop partnerships with relevant stakeholders in the water utilities and real estate sectors.
Strengthen relationships in shared water projects in Kenya and beyond.
Work with our agile tech team to launch new product features.
Scale operations — affecting millions across Africa.
HydroIQ is reshaping the art of the possible in water management through strategic engagements, disruptive technology and an uncompromising focus on excellence.
As we unfold 2024, I reflect on the most impactful words I have heard from my peers, customers, and stakeholders: ‘This is something greater than you could imagine’. It is these sentiments that inspire our vision and drive us to implement the revolution of water management throughout Africa and the rest of the world.
Not just better competitors, but a better company, and we couldn’t have done it without our partners, investors, and supporters — thank you for joining us on this journey. Water is not only managed, it also means designing sustainable systems that work for communities, businesses and nature. With us, every drop will count.
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