Water monitoring solutions company TaKaDu has raised $6 million. The investment was led by ABB Technology Ventures, the venture capital arm of Swiss technology firm ABB in a funding round that also included existing investors Emerald Technology Ventures, Gemini Israel Funds and Giza Venture Capital. Yehud-based TaKaDu develops and provides advanced monitoring solutions for water distribution networks.
ABB said that the investment will give it access to a field-proven monitoring system that complements its automation portfolio for the water sector. This includes a range of power and automation products and integrated solutions that allow customers to produce, transport, distribute, treat and utilize water efficiently, reducing energy consumption, minimizing losses and improving reliability.
TaKaDu provides a software-as-a-service (SaaS) solution that can detect and alert in real-time on water network faults, leaks, bursts, network breaches, faulty meters, and other inefficiencies. The solution is based on sophisticated cloud-based data analysis and requires no network changes, additional devices or capital expenditure. It leverages multiple data sources including inputs from network operations, online sensor based flow and pressure data and other external influencers such as weather and calendar events.
ABB Power Systems Division head Franz-Josef Mengede said, "TaKaDu’s innovative solution enables commercial water network operators to monitor their distribution networks efficiently and reduce losses. Water is a key focus area for ABB and this investment will further strengthen our power and automation offering for the sector.”
TaKaDu’s solutions have been rolled out by leading water utilities in ten countries and have earned international recognition as an environmentally friendly technology including the Technology Pioneer award from the World Economic Forum in 2011.
TaKaDu founder and CEO Amir Peleg said, “This strategic investment will facilitate marketing and technical synergies with ABB, a global leader, and help us to pursue our vision of making water networks smarter through advanced technology. TaKaDu’s innovation in the water space is a great match to ABB’s market position and approach.”
Published by Globes, Israel business news - www.globes-online.com - on May 1, 2012
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