ABB, the leading power and automation technology group, announced its decision to invest in TaKaDu, a provider of advanced monitoring solutions for water distribution networks. The investment was led by ABB Technology Ventures, ABB’s venture capital arm in a $6 million funding round that also included existing TaKaDu investors Emerald Technology Ventures, Gemini Israel Funds and Giza Venture Capital.
The investment gives ABB access to a field-proven monitoring system that complements its automation portfolio for the water sector. This includes a range of power and automation products and integrated solutions that allow customers to produce, transport, distribute, treat and utilize water efficiently, reducing energy consumption, minimizing losses and improving reliability.
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. This data can all be securely accessed over the internet.
Among its many benefits, this technology can deliver significant reductions in water losses, often referred to as Non-Revenue Water (NRW). 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.
"TaKaDu’s innovative solution enables commercial water network operators to monitor their distribution networks efficiently and reduce losses” said Franz-Josef Mengede, head of ABB’s Power Generation business within the company’s Power Systems division. "Water is a key focus area for ABB and this investment will further strengthen our power and automation offering for the sector.”
TaKaDu’s solutions have been rolled out by leading water utilities in ten countries and have earned international recognition as an environmentally friendly technology including the Technology Pioneer award from the World Economic Forum in 2011.
“This strategic investment will facilitate marketing and technical synergies with ABB, a global leader, and help us to pursue our vision of making water networks smarter through advanced technology” said Amir Peleg, Founder and CEO of TaKaDu."TaKaDu’s innovation in the water space is a great match to ABB’s market position and approach.”
ABB (abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 135,000 people.