Water quality monitoring and logistics software Ketos has raised $ 15 million from a group of investors to take advantage of the growing demand for better water management tools and technologies.
The potential for more stringent regulatory oversight of industrial water use and wastewater management by local, state and federal government accompanied by growing consumer and investor demands for better corporate environmental stewardship is leading to an unprecedented adoption of technology and services designed to increase conservation and reduce waste across industries.
The water monitor can also provide relevant information to public officials on the potential for disease outbreaks and other health problems in a population.
Recently, the monitor of wastewater flows has been used to detect outbreaks of the virus that causes COVID-19.
The renewed focus on water is one of the reasons why an investment arm of the banking giant Citi joins leading investor Motley Fool Ventures and Illuminated Funds Group to come as new investors in Ketos. They are joined by existing sponsors such as Ajax Strategies, Better Ventures, Broadway Angels, Plum Valley Ventures, and Rethink Impact.
Silicon Valley Bank provided the company with $ 3 billion in debt financing.
The company said it will use the funding to develop new capabilities for its combined hardware and software service that provide information on water quality and the existence of potential damage to water pipes for distribution and disposal. elimination of water.
“The creation of one of the largest centralized data lakes for water quality information – with information on heavy metal toxins, accompanied by location-based mapping and potential sources of contamination – has the potential to do just that. that machine learning and artificial intelligence can achieve is unlimited, ”said Meena Sankaran, founder and CEO of the company.
Another selling point is the company’s use of machine learning to predict where problems with water systems may arise – avoiding the need for more costly investments in infrastructure.
“KETOS truly disrupts the water intelligence industry with data that it captures autonomously (remotely controlled) and makes available to its customers for the prediction of water management problems, which it’s even more in the lead as the world battles COVID, ”Ollen Douglass, Managing Director of Motley Fool Ventures, said in a statement. “For the first time, it is possible to use predictive modeling and much-needed mission-critical insights with $ 0 capital infrastructure investments, to build, act and make informed decisions about a water network.”