Israel-based Takadu’s software-as-a-service allows utilities to monitor water grids and warns suppliers of leaks, pipe bursts or other irregularities.
The solution is based on complex statistical algorithms that correlate and analyse data from meters within the network, such as flow, pressure and quality, and external data such as weather, holidays and more.
In addition to 3M New Ventures Switzerland-based industrial group ABB’s corporate venturing unit, ABB Technology Ventures, also contributed to the round alongside Emerald Technology Investors, which has the reported backing of Russia state-backed Rusnano, Gemini Israel Funds and Giza Venture Capital. Takadu has raised $15m since it was set up in 2009.
At the time of the company’s $6m fundraising, Stefan Gabriel, president of 3M New Ventures, said: “Addressing increasing water scarcity, Takadu offers a strong value proposition for water utility customers to help balance critical maintenance and repair needs with 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 of Takadu, said the company saw 3M as an important strategic investment partner based on its focus on underground utility locating and marking solutions and trenchless water pipe rehabilitation, as well as its reputation in the infrastructure protection market.
Takadu’s customers include Yarra Valley Water in Australia, Evides Waterbedrijf in the Netherlands, and Hagihon in Israel.
In 2013 Takadu won the Sustainable Award, chaired by Arnold Schwarzenegger. The award is initiated by Copenhagen sustainability think-tank Sustainia in collaboration with Arnold Schwarzenegger’s initiative Regions20, UN Global Compact and the EU Commission.
Sustainia is supported by a range of companies including Novo Nordisk, Philips Lighting, Cisco, DNV, Realdania and Microsoft.
Schwarzenegger said: “The Sustainia Award winner is a great example of the solutions we need. With an advanced technology, they help address a serious issue facing many communities – scarcity of water. They are true green action heroes.”
Shortlist