‘Water intelligence’ startup Wint nabs $35M to help companies find and stop leaks
Wint, a so-called “water intelligence” company that says it uses AI to detect and stop leaks, has raised $35 million in a Series C round of funding.
Founded out of Israel in 2011, Wint has developed a water management system comprising AI-enabled software and connected hardware that alerts users when there may be a leak, with the ability to configure the system to automatically shut down where the leak is detected. Customers may include anyone from facility managers and construction firms, to data centers and any enterprise looking to bolster their carbon emission reports with hard data.
The company claims an impressive roster of clients, including Microsoft, Google, Mastercard, HP, and Dell.
Cash flow
Wint raised a $15 million Series B round of funding just last year led by Insight Partners, the New York-based investor that has previously backed the likes of Twitter, Tumblr, and Shopify. Insight has returned for the Series C round, which it co-led alongside Czech climate tech fund Inven Capital. Taronga Ventures also participated in the round.
The raise comes amid growing concerns around water scarcity in many regions of the world, a problem that many startups are trying to solve with various solutions.
“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 are reaching unacceptable levels for insurers, owners, developers and contractors,” Wint CEO Alon Geva noted in a press release.
