3M New Ventures, the Germany-based corporate venture unit of US-based technology products and services conglomerate 3M, has made an undisclosed amount of equity investment in TaKaDu, an Israel-based provider of data analytics services to monitor water networks.
Stefan Gabriel, president of 3M New Ventures, said: “Addressing the increasing water scarcity, TaKaDu offers a strong value proposition for water utility customers to help balance critical maintenance and repair needs with the limitations on the funding side. 3M’s Electrical Markets Division is well positioned to leverage this investment by pairing TaKaDu’s software offering with our existing water pipe rehabilitation solutions.”
Amir Peleg, founder and chief executive officer of TaKaDu, said: “We see 3M as an important strategic investment partner based on their focus on underground utility locating and marking solutions, trenchless water pipe rehabilitation, as well as their premium reputation in the infrastructure protection market. Following ABB’s strategic investment in TaKaDu last year, we are now excited about the opportunity to add 3M to our existing relationships as we continue to scale our solution to water network owners around the world and expand our technology capability.”
TaKaDu was founded in 2009.