Water management and leak-prevention solutions provider Wint Water Intelligence announced that it has raised $35 million, with proceeds from the financing aimed at supporting its growth and innovation in its AI- and IoT-based solutions.
Founded in 2011, Israel-based Wint helps businesses to reduce their environmental footprint through the prevention of water leaks, waste and damage in buildings. The company’s artificial intelligence and IoT technology-based solutions enable commercial facilities, construction sites and industrial manufacturers to cut water waste, reduce carbon emissions and prevent the cost and environmental impact of water-leaks, and prevent water damage on construction sites and in commercial and residential buildings.
The company said that the funding round will support its global market expansion and technological innovation.
Alon Geva, CEO of WINT, said:
“We’re excited to close this round at a time when water scarcity and climate change are becoming some of humanity’s greatest challenges, while the costs of water leak damage in buildings is reaching unacceptable levels for insurers, owners, developers and contractors.”
The Series C funding round was led by European climate tech fund Inven Capital and software investor Insight Partners, with participation from investors including real estate tech-focused Taronga Ventures, and other prop-tech and construction-tech investors.
Michal Mravec, Investment Director at Inven Capital, said:
“As a climate tech Investor, we were greatly impressed by WINT’s vision to bring sustainability and risk mitigation into water management, coupled with its ability to rapidly rise to market leadership in this fast-growing space. Their exponential growth, focus on customer value, cutting-edge technology, and ability to deliver globally are a uniquely powerful combination. We’re excited about the prospect of working with this exceptional team to help drive WINT’s continued growth while making our world a better place.”