TEL-AVIV, Israel, Oct. 4, 2024
/PRNewswire/ -- Kando, a leading wastewater intelligence company
dedicated to improving global wastewater quality through innovative
solutions, is excited to announce the successful close of its
latest investment round, raising $10
million, bringing the total amount raised to $30 million.
Wastewater quality is a huge global challenge that impacts water
availability, public health and the environment. Kando was founded
by Zohar Scheinin and Ari Goldfarb
and operated as a bootstrap company in its early years. This round
was led by prominent investors, including DC Thomson, LIP, Ram-On
Investments, Bridges Israel, ICI Frund, Aliaxis and OurCrowd. The
investors joined forces to support Kando's mission of transforming
the water sector with cutting-edge technology.
The investment will drive Kando's extensive global expansion,
focusing on the US and Europe.
Kando's solution, built on proprietary machine learning models
trained on unique in-house IoT wastewater data, optimizes
wastewater quality management.
Backed by a robust data science team, including experts with
PhDs in Biophysics, Biology, and Mathematics, Kando leverages
Generative AI to transform analytical insights and industry
knowledge into actionable business actions. This innovative
approach enables significant cost savings, enhances wastewater
reuse, and supports sustainable urban water management in cities
across the US and Europe.
John S. Thomson, Investment
Director, DC Thomson:
"As a purpose-driven company, we are dedicated to driving
meaningful change. We are thrilled to support Kando on their
journey to make a positive impact on the communities we serve. We
are looking forward to helping Kando improve water quality in the
ocean, rivers, and streams in the UK. Kando's solution, based on
GenAI, aligns perfectly with our mission to invest in technologies
that support a sustainable future."
Mario Nissan, Managing Partner
at LIP Ventures:
"We are excited to collaborate with Kando on scaling their
wastewater intelligence solution. Kando is a prime example of how
AI can address complex challenges in a market that is so important
to people's lives. We look forward to supporting Kando's leadership
and leveraging our unrivalled network of corporate and
entrepreneurial decision-makers."
Gili Elkin, partner at
Kando and the Israel-Colorado Innovation Fund:
At ICI Fund, we are dedicated to investing in innovative AI
technologies that address pressing global challenges. Kando's
pioneering approach to wastewater intelligence perfectly aligns
with our mission to drive meaningful impact. We believe in Kando's
ongoing commitment to protecting public health and the environment
through advancements in wastewater quality - now further enhanced
by the power of Generative AI.
Josh Hersch, Investment Director at OurCrowd:
"Kando's pioneering use of Generative AI in wastewater management
is a game-changer for the environment and public health. This
investment allows us to back a technology that not only improves
water quality but also empowers communities globally. We're proud
to support Kando's mission and look forward to seeing the
transformative impact it will bring."
Fredrik Östbye, Head of Aliaxis Next:
"As a company focused on providing sustainable water management
solutions, we are excited about our partnership with Kando. Their
Generative AI-driven platform is exactly the type of innovation the
water sector needs to address its growing challenges. We are
thrilled to support the development of cutting-edge technology that
enhances water quality worldwide."
Ari Goldfarb CEO and Co-founder KANDO:
"We are excited and looking forward to working with our new
partners who have joined us, together with the existing investors
who have once again shown their trust and support to solve the
global water challenge. This investment will further empower the
use of AI to improve decision-making in the water sector,
benefiting populations worldwide. Kando's solution, powered by
Generative AI, allows us to manage and improve wastewater quality,
save millions of dollars, and enable the reuse of wastewater. This
investment will accelerate our growth and create more value for
cities in the US and Europe."
Media Contact:
Eve
Ferguson
Public Relations Manager, Fifth Ring
+44 1224 628083
eve.ferguson@fifthring.com
About Kando
Kando's journey began in the heart of southern Israel, a region renowned for pioneering water
conservation and innovation. Inspired by the region's commitment to
sustainable water practices, Kando was founded with a vision to
revolutionize wastewater management. Our mission is to make a
positive impact on global public and environmental health by
enhancing wastewater quality. Our journey has been driven by a
passion for cleaner water and a healthier planet. At the core of
our efforts is our data intelligence platform. We empower our
clients to make informed decisions, guiding them toward a future
where wastewater management is efficient, sustainable, and aligned
with their goals and vision.
For more on Kando's origins and evolution, read Kando's full
story here.
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SOURCE Kando