New Investment Opportunity: Kando
Wastewater intelligence to protect public health and the environment
- Wastewater technology company using data intelligence to detect and predict quality and health threats within the wastewater
- Estimated annual CAPEX, OPEX savings for water companies $1M-$10M per city; 50% improvement in wastewater quality
- 93% YOY revenue growth in 2021, projecting 244% YOY growth in 2022; 129% net dollar retention; 91% net promoter score
- Blue ocean market estimated at $250B; company among global industry leaders
- Multimillion-dollar contract with a major Middle East wastewater facility; contracts, pilots in major places including El Paso, Cincinnati, Italy, and Israel
- Up to $15M Series C round led by OurCrowd
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Dear Josb,
With growing concerns for global water scarcity ‒ by 2025, two-thirds of the world's population may be facing water shortages ‒ wastewater is recognized as an increasingly valuable resource for industry and agriculture. As shown during the Covid pandemic, it can also be a tool for the detection and prediction of disease.
OurCrowd is investing in Kando, an Israeli WaterTech startup whose end-to-end internet-of-things (IoT) platform transforms wastewater data into an essential operational and cost-saving tool for water treatment companies, and a lifesaver enabling health authorities to identify the outbreak of disease. The details in this email are based on information received from, and verified solely by, the company.
The Problem
Wastewater facilities are crucial for the environment and are important sources of water for agriculture and industry. Wastewater treatment plants around the world are impacted by contamination events almost daily. Whenever wastewater is contaminated, it impacts their processes and raises operational costs, and sometimes even shuts them down, forcing them to discharge untreated wastewater into the ocean.
The Solution
Kando detects events in the wastewater network, tracks the source, and communicates their impact in real-time. Kando's IoT data gathering units monitor wastewater conditions in real time. Its proprietary AI-driven software detects critically important changes in the wastewater such as increases in salinity or heavy metals, or acidity which could otherwise cause a shutdown. The system pinpoints the source of the breach and provides the operator with immediate actionable insights to avoid forced closure or expensive cleanup procedures.
The Customers
Kando's customers include companies, utilities, municipalities, and health authorities in the US, Europe and Israel. In Israel, Kando is used by Igudan, one of the largest wastewater treatment facilities in the Middle East, the Israeli Ministry of Health, and others. Kando's customers also include private and public utilities in Italy. In the US, Kando has signed contracts with El Paso Water, and recently announced a pilot with the Metropolitan Sewage District of Greater Cincinnati.
Partnerships
In 2021, Kando partnered with OnSite, one of the UK's primary infrastructure contractors, which serves all the UK's water and sewage companies. Kando has additional partnerships with engineering and technology companies in the US, Italy, France, the UK, and Israel.
Traction
Kando's revenue rose 93% YOY from 2020 to 2021. The company's revenue in H1 2022 sets it on track for full-year revenue growth of 244% compared to 2021. The company has secured a multi-year, multimillion-dollar public health monitoring contract with the Israeli Ministry of Health.
The system provides an estimated annual CAPEX and OPEX savings for the water treatment operators of $1M-$10M per city. Kando has a high retention rate with net dollar retention of 129%. The company also has a strong 91% net promoter score.
The Market
The global wastewater treatment market is expected to reach $462.5B by 2030 from $250B in 2021, at a CAGR of 7.41%.
The Team
Kando is led by Co-founder and CEO Ari Goldfarb, who previously served as VP of environmental consulting at the environmental consulting and engineering company, DHV MED Ltd. Co-founder and COO Zohar Scheinin was previously HR manager at DHV MED Ltd.
The Round
OurCrowd is leading this up to $15M Series C round. The proceeds will be used to increase and support global expansion initiatives, particularly in the US, and to develop and deliver product tools to predict epidemiology outbreaks and harness new intelligence from the sewer system.
Meet the CEO
We're hosting a webinar/conference call on Sunday, September 18th, at 7PM Israel / 12 Noon New York / 9AM San Francisco for investors to meet CEO Ari Goldfarb and learn more about Kando.
The Kando Solution
Kando offers two solutions: Kando Pulse, a wastewater intelligence solution, and a water-based epidemiology (WBE) surveillance platform targeting the public health sector. Kando Pulse, uses IoT connected data gathering units positioned within a client's networks to monitor wastewater conditions in real-time. Kando then analyzes the data, and provides a detailed minute-by-minute view of what's happening inside wastewater collection systems. Kando's WBE Surveillance product for the public health sector predicts outbreaks and delivers reliable public health data. The system is designed to alert health authorities about latent morbidity and the beginning of a future wave of morbidity, as well as the discovery of new variants and identification of the geographical source of the outbreak.
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