Yehud, Israel and Zurich, Switzerland — (METERING.COM) — April 11, 2012 – Water network monitoring solution provider TaKaDu has received a $6 million funding boost led by ABB through its venture capital arm ABB Technology Ventures along with existing investors Emerald Technology Ventures, Gemini Israel Funds and Giza Venture Capital.
The investment is aimed to give ABB access to a field proven monitoring system that complements its automation portfolio for the water sector.
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.
Among its many benefits, this technology can deliver significant reductions in water losses. The World Bank estimates global water loss at 25 to 30 percent, representing a $20 billion cost savings opportunity. The problem is further exacerbated by the continued increase in demand for water around the world and aging infrastructure.
“This strategic investment will facilitate marketing and technical synergies with ABB, and help us to pursue our vision of making water networks smarter through advanced technology,” commented Amir Peleg, founder and CEO of TaKaDu.
TaKaDu’s solutions have been rolled out by water utilities in ten countries and have been recognized with the Technology Pioneer award from the World Economic Forum in 2011.