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Israeli Startup, Kando, Secures Funding from Israel - Colorado Innovation Fund

  • Israel, September 14, 2018: Israel - Colorado Innovation Fund (ICI Fund), has recently announced an investment in Israeli-based startup, Kando. Kando has an innovative technology utilised by wastewater utilities to gain insight into collection system dynamics. The company monitors wastewater in real-time through a cloud-based software solution that tracks and monitors key wastewater quality parameters.

    Wastewater utilities have invested in both hardware and software that automate treatment processes, but technologies that provide real-time insight in the collection system are very few. The ICI Fund believes Kando will further enable automation of the wastewater utilities sector, and allow utilities to benefit from better analytical data, improved asset management, and more consistent wastewater reuse.

    The ICI Fund is joining other investors of Kando’s company in a series A round of financing. Kando will predominantly utilise the funds for product and business development as the company continues to improve its monitoring and big data analytics tools.

    The ICI Fund is a seed-stage venture capital fund investing in Israeli startups in the industries of water, energy, and transportation innovations. ICI Fund supports the growth of technology companies in partnership with Innosphere, Colorado’s leading technology incubator. ICI Fund collaborates with the Israel Innovation Authority (IIA) who provides grants for selected Israeli companies.

    Innosphere will help Kando establish a strong U.S. presence by connecting it with local talent, capital, and potential customers such as water and wastewater utilities.

    “We selected Kando out of hundreds of companies, not only because of the innovative technology and exceptional team led by their CEO Ari Goldfarb, but also due to the positive feedback we received from major utilities, Kando’s clients,” said Gili Elkin, ICI Fund General Partner. “Historic data combined with real-time information and advanced analytical algorithms is what makes Kando’s technology so groundbreaking. For the first time, this technology allows wastewater utilities to detect anomalies, optimize operations and increase the reuse of wastewater.”

    “With the support of ICI Fund and Innosphere, we’re confident Kando will rapidly scale in the US to become an industry leader,” said Kando founder and CEO, Ari Goldfarb. “I’m excited for our company to continue growing to help more wastewater utilities around the world solve their challenges.”

    Kando’s solution radically reduces costs for water utilities by providing a complete overview of their wastewater underground network. Kando’s Smart Units are strategically placed across a city or region, where the software monitors all data to create a dashboard of accurate, up-to-the-minute information.

    SOURCE: ISRAEL-COLORADO INNOVATION FUND