Water tech co TaKaDu raises $6m from 3M

Municipal water network monitoring company TaKaDu raised the capital from 3M and other investors.

Municipal water network monitoring company TaKaDu Ltd. has raised $6 million from 3M and other investors.

TaKaDu CEO Amir Peleg founded the company in 2009. Its SaaS solution analyzes data from already-available sensors and meters in a water network, alerting operators about problems, such as water loss and other operational inefficiencies in real time. The solution takes raw data from water meters, pressure meters, and water quality sensors and cross-references them with other data, such as weather, holidays, and geographic information system (GIS), and uses advanced statistical analysis to gain a thorough understanding of changes in the water system.

"We consider 3M as an important strategic investor and partner on the basis of its focus on locating problems and the replacement of old water pipes, its outstanding reputation in infrastructure protection products, and position as a global leader in innovation," said Peleg. "Following the strategic investment by ABB in TaKaDu last year, we are very pleased with the opportunity to add a high-quality strategic investor like 3M to the companies backing us."

Published by Globes [online], Israel business news - www.globes-online.com - on October 16, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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