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
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