Planet First Partners signs $20M term sheet with Kando
Wastewater intelligence pioneer is running projects in US cities, Italy and Israel
- 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; 49% improvement in wastewater quality
- 93% YOY revenue growth in 2021, projecting 200% 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 and projects in major locations including El Paso, Cincinnati, Italy, and Israel
- Up to $30M Series C round led by Planet First Partners
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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.
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.
UK-based investment management firm Planet First Partners has signed a $20M term sheet to lead Kando's $30M Series C round, providing significant strategic value for 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.
The Round
Planet First Partners is leading this up to $30M 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
Watch an investor briefing with 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.
Next steps:
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