3M Invests in TaKaDu
3M Invests in TaKaDu
Investment pairs TaKaDu's water network monitoring with 3M's water pipe rehabilitation solutions
ST. PAUL, Minn. & YEHUD, Israel--(BUSINESS WIRE)-- Today, 3M New Ventures (3M's corporate venture organization) announced an equity investment in TaKaDu, a leading provider of advanced analytics services to monitor water networks. The cloud-based solution offered by TaKaDu takes available raw network data and uses sophisticated analytics to detect and predict network issues, improve incidence response times and monitor and mitigate operational issues in the water grid. The terms of the transaction were not disclosed.
Founded by data analytics innovator, Amir Peleg, in early 2009, TaKaDu transforms the way water networks are operated and managed. Instead of using costly traditional methods, TaKaDu employs data fusion of raw network data (flow, pressure, water quality and more) and enriches it with secondary data (weather, GIS, calendar) while using advanced statistical algorithms to identify deviations from historical patterns. This approach allows TaKaDu to detect, classify and locate network inefficiencies including leaks, bursts, faulty meters, and zone breaches. In addition to day-to-day alerts about network inefficiencies, the solution provides utility owners with a holistic view of their network, supporting smarter long-term planning decision making.
"We see 3M as an important strategic investment partner based on their focus on underground utility locating and marking solutions, trenchless water pipe rehabilitation, as well as their premium reputation in the infrastructure protection market," said Amir Peleg, founder and CEO of TaKaDu. "Following ABB's strategic investment in TaKaDu last year, we are now excited about the opportunity to add 3M to our existing relationships as we continue to scale our solution to water network owners around the world and expand our technology capability."
3M has been a leader in infrastructure protection solutions for over 50 years. Ryan Rogers, Global Business Manager - Water Infrastructure Renewal for Electrical Markets Division of 3M, commented: "With 250,000 local water networks worldwide and non-revenue water between 20% and 30% globally, there is an incredible growing need for a solution that provides the eyes and ears into the chronically aging water infrastructure. TaKaDu's novel solution is unique in combining a Big Data approach, Cloud Based service, and strong IP. It is cost effective to implement and can quickly pinpoint and address issues as they arise, arming the water network manager with new knowledge and insight to help them address water loss and improve the effectiveness of their maintenance organization allowing for higher customer satisfaction."
Stefan Gabriel, President of 3M New Ventures added: "We are delighted to announce our investment in TaKaDu. Addressing the increasing water scarcity, the company offers a strong value proposition for water utility customers to help balance critical maintenance and repair needs with the limitations on the funding side. 3M's Electrical Markets Division is well positioned to leverage this investment by pairing TaKaDu's software offering with our existing water pipe rehabilitation solutions."
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements of the future plans, strategies and objectives of management. 3M and TaKaDu assume no obligation and do not intend to update these forward-looking statements.
TaKaDu is the global leader in Water Network Monitoring, providing a comprehensive platform for water utilities looking to reduce costs and increase efficiency. TaKaDu's web-based solution gives the utility real-time control over network events, using state-of-the-art statistical and mathematical algorithms. TaKaDu's patented technology is easy to deploy, requiring no network changes, no additional devices and no capital expenditure. TaKaDu saves time, money, water and energy in water utilities across the globe. It serves utilities through a global network of partners and resellers. TaKaDu is a founding member of the Smart Water Networks (SWAN) Forum, and the winner of many industry awards, including the prestigious Technology Pioneer award from the World Economic Forum. For further information, visit www.takadu.com.
3M captures the spark of new ideas and transforms them into thousands of ingenious products. Our culture of creative collaboration inspires a never-ending stream of powerful technologies that make life better. 3M is the innovation company that never stops inventing. With $30 billion in sales, 3M employs about 88,000 people worldwide and has operations in more than 70 countries. For more information, visit www.3M.com or follow @3MNews on Twitter. 3M's Electrical Markets Division (EMD) provides a diverse set of solutions for protecting, assessing and renewing the world's infrastructure. Through its products, services and multiple technology platforms, EMD helps customers protect valuable assets above ground and underground in water, energy, civil, transportation and telecom infrastructure. For more information, visit www.3M.com/water.
About 3M New Ventures
3M New Ventures, headquartered in Munich, Germany, identifies and invests in innovative companies and disruptive new technologies of strategic relevance for 3M Recent investments made by 3M New Ventures include minority stakes in Mersive Technologies Inc., a provider of visual computing software; VocalZoom Systems Ltd. working on a technology to capture quality audio signals in noisy environments; and Ecovative Design LLC, a developer of novel environmentally responsible materials for packaging and other applications. For more information, visit www.3M.com/newventures.
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