Tragic stories come with the territory navigated by Vancouver-based entrepreneur Carlyn Loncaric.
In fact, many of her customers purchase her company’s flagship product in the wake of a disaster.
Loncaric founded VodaSafe in 2017 to create a rescue solution for open water drownings, and two years later launched the world’s first handheld intelligent sonar device, which helps make water rescue and victim recovery missions faster, safer and more effective, she says.
The AquaEye uses sonar and artificial intelligence technology to identify humans under water, allowing first responders to search nearly half a hectare (one acre) of water in a minute and reduce search times by 87 per cent.
The tool can be deployed in seconds to immediately give responders feedback and real-time data. And though first responders often purchase AquaEye after a drowning has occurred, Loncaric said being proactive and having it accessible at all times shortens search times and could ultimately save lives.
“It really solves a problem of speed,” said Loncaric, who serves as the company’s CEO. “When you’re in a disaster situation, either looking for a drowning victim or you’re facing flooding or a bridge collapse, time is of the essence. Every second counts.”
Loncaric said VodaSafe is always looking for ways to improve AquaEye’s performance and usability.
“We’ve trained it for several years to detect humans and ignore objects in the water, and we’re constantly improving the algorithm as we continually learn new things from our customers and new environments,” she said. “Some of our customers call it the AED of the water.”
A former lifeguard and swim instructor, Loncaric holds a bachelor’s degree in systems engineering and a master’s in microelectronics engineering, both from Simon Fraser University (SFU). She was in her early 20s when she came up with the idea for what later became AquaEye.
“I developed a passion for microelectronics design while partaking in three co-op terms,” said the inventor. “I wanted the opportunity to take an idea and develop a working product, and be challenged to do that on my own.”
After graduating from SFU, Loncaric worked for three years as a lead researcher at biomedical engineering startup Boreal Genomics in Vancouver. There, she learned new skills in molecular biology and developed two DNA detection platforms from concept to working prototype.
In 2016, Loncaric dove into entrepreneurship to create the first AquaEye prototype. Working out of her basement, she began to search for her first customer once she had her first prototype up and running. The idea landed on a desk at The Lifesavings Society in Ontario.
“They really helped me get started by getting to talk to some customers, going through some brainstorming and providing a bit of startup funding,” she said.
That funding was enough to get Loncaric and her AquaEye to the demo stage. In 2017, she secured pre-seed funding from Vancouver-based Vanedge Capital.
“I got my first space in 2018 and hired my first two employees that year,” she said. “We were a company of three for a year. Then we got some co-op students and interns and grew from there.”
Today, the company has a staff of 15 and is getting closer to its target of raising $5 million from angel investors and larger funders to double its space in a new Vancouver location this fall.
“We manufacture our product here, so we need more shop and office space,” said Loncaric. “We’re growing our team, but when we close fundraising, we’ll be growing it faster.”
Loncaric said funding will also be going toward research and development as VodaSafe develops new products, including an app.
VodaSafe has sold more than 1,000 units in 48 countries, and the company says it broke even in 2022. Many of its customers are U.S.-based emergency responders, including the Navy SEALs. The firm’s biggest customer is Basarnas in Indonesia — the same government search and rescue agency tasked with finding Lion Air Flight 610—the Boeing 737 Max aircraft that crashed into the Java Sea in 2018, killing all 189 people on board.
“We’re getting a lot of reactionary purchasing, but what we really want to see is that AquaEye becomes a de facto standard so that people are purchasing before disaster strikes,” said Loncaric.
VodaSafe has also been selling AquaEye across Canada at about $8,000 per unit, but sales have been slower on this side of the border. Being one of five companies to win a Telus #StandWithOwners grand prize last year helped bring more Canadian customers onboard, according to Loncaric. Another selling point in Canada is that AquaEye also works under ice.
The product hasn’t resulted in a water rescue yet, but Loncaric hopes that having more AquaEyes in action will reduce wait times, keep first responders safe and might help save lives. During drownings, families often wait weeks or months for information, and first responders can suffer from post-traumatic stress disorder due to unclosed cases. Loncaric said AquaEye helps brings closure to these cases sooner.
“We are doing a lot of good, but we’ve yet to have that super happy moment of a saved life,” she said. “The more units out there, the more likely we’re going to be in the right place at the right time.”
A mother of twins, Loncaric advises female entrepreneurs to surround themselves with supporters and encourages them to have a mentor or coach.
“It’s never an easy journey, but it’s often a rewarding one,” she said. “It’s going to be tough—you are going to be a minority, and you are going to have a lot harder time raising money.”
VodaSafe won the top prize at the Odlum Brown Forum Pitch last year. The Forum is a national charity that supports female entrepreneurs.
“I think that’s what helped us land our lead investor for this round,” said Loncaric.
The company also won BIV’s 2023 小蓝视频 Export Award for Emerging Exporter, and Company of the Year − Startup at the 2022 Technology Impact Awards (TIA), run by 小蓝视频 Tech. This year, VodaSafe has been nominated for another TIA—this time, Company of the Year – Growth.
