Inflowmatix, a UK-based provider of water flow analytics services for utilities, has been acquired by one of its investors, water and waste treatment firm Suez Group, for an undisclosed sum.
Founded in 2015, Inflowmatix has developed a high-frequency pressure monitoring and data analytics platform that allows water utilities to gain near real-time insights into their networks. Its technology has been deployed by Suez in several products.
The company most recently secured $3.4m from Suez Ventures, the corporate venturing arm of Suez Group, in October 2019, following an undisclosed amount supplied by Parkwalk Advisors in 2018.
Parkwalk had already invested in Inflowmatix as part of a $4.3m series A round in 2016 together with Imperial Innovations, since acquired by IP Group. The latter had injected $1.5m in capital in the company the previous year.
Diane Galbe, senior vice-president of Suez Group’s smart and environmental solutions unit and strategy, said: “Inflowmatix and Suez have partnered for several years now, and brought innovative solutions to our customers thanks to their complementary expertise.
“This acquisition will enable us to offer a greater range of smart water solutions and reinforce our position as a major player in the booming water pressure management market.”
The original version of this article appeared on our sister site, Global University Venturing.
