Colorado, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Israel – Colorado Innovation Fund (ICI Fund), has announced an investment in Israeli-based startup, Kando. Kando has an innovative technology utilized 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 utilize 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.
For more information about Israel – Colorado Innovation Fund, contact General Partner, Gili Elkin, at gili@ici.fund. For more information about Innosphere contact ICI Fund General Partner and Innosphere CEO, Mike Freeman, at mike@innosphere.org or (970) 818-7736.
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About the Israel–Colorado Innovation Fund:
Israel – Colorado Innovation Fund (ICI Fund) is a seed-stage venture capital fund investing in Israeli startups in the industries of water, energy, and transportation. ICI Fund has an agreement with the Israel Innovation Authority (IIA) according to which, startups that are selected for investment by ICI Fund are eligible to apply to the IIA grant. The ICI Fund supports portfolio companies with business development and helps them gain access the U.S. market through Innosphere, Colorado’s leading business incubator. https://www.ici.fund/
About Kando:
Since 2011, Kando has specialized in developing end-to-end wastewater smart management solutions that combine expert service from dedicated professionals with game-changing hardware and software. Kando’s goal is to drive innovation and efficiency in wastewater management, using next generation technologies and processes.
The Kando team is made up of 20 industry veterans in the areas of environmental engineering, chemical engineering, process engineering, project management and software development. Kando’s top priority is to foster close, direct partnerships with customers, to increase quality and quantity of wastewater for reuse and reduce utilities’ operating and maintenance costs. www.kando.co.il
About Innosphere:
Innosphere accelerates the success of high-impact science and technology-based startup and scaleup companies in Colorado. Innosphere’s incubation program focus on ensuring companies are investor-ready, connecting entrepreneurs with experienced advisors, making introductions to corporate partners, exit planning, and accelerating top line revenue growth. Innosphere supports entrepreneurs in many industries, including but not limited to: bioscience; medical device; cleantech; energy; advanced materials; hardware; IoT; and enterprise software. Once accepted into the program, companies receive ongoing support to ensure they’re getting the know-how to raise the right kind of capital and developing all the resources to grow. Innosphere has been in operation for 20 years, has locations in Fort Collins, Boulder, Denver, and Castle Rock, and is a non-profit 501(c)(3) organization with a strong mission to create jobs and grow Colorado’s entrepreneurship ecosystem. www.innosphere.org
About Israel Innovation Authority:
Israel Innovation Authority is an independent and impartial public entity responsible for the country’s innovation policy and operates for the benefit of the Israeli innovation ecosystem and the Israeli economy as a whole. Its role is to nurture and develop Israeli innovation resources, while creating and strengthening the infrastructure and framework needed to support the entire knowledge industry. The Israel Innovation Authority creates cooperation with counterpart agencies to promote technological innovation in the Israeli industry and economy.
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