US water intelligence start-up raises €9 million series funding

KETOS, a US-based water intelligence start-up has raised €9 million in additional equity funding which will be used to advance the company's go-to-market strategy.

Bringing turnkey solutions to market

As well as accelerating the company's go-to-market strategy, the funding will be used to expand the company's presence globally across the nine countries where KETOS successfully operates. The company is also enhancing its research and development efforts to address PFAS issues in the market.

Meena Sankaran, KETOS' founder and CEO told Aquatech Online: "We welcome this new investment to expand development and markets for our KETOS SHIELD and PRISM solutions. We value these strategic partnerships as we move into new markets and applications."

She added: "As global water demand continues to surge, KETOS offers efficient, turnkey solutions for companies and cities facing water quality and availability challenges."

Investing in the water tech market

The round was led by Tenfore Holdings, with participation from Danu Venture Group and existing investors Broadway Angels, Plum Alley Ventures, Plug and Play Ventures, and Accenture, which serves as both an investor and strategic resale partner.

Water analytics software has been attracting interest among investors recently, among strong and growing interest in the wider sector.

As part of the funding round, KETOS has appointed two new strategic advisory board members and two new board directors to support its growth trajectory.

Joining the board of directors will be:

• Jennifer Helle, North American Chemicals and Natural Resources Industry Lead for Accenture; and
• Jim MacIntyre, a serial entrepreneur with a 25-year track record supporting technology innovation and a board member and investor for several leading technology companies.

The two new strategic advisory board members are:

• Dr Neil Hawkins, president, Michigan Sustainability Associates, Harvard professor, leading global expert in sustainable business practices and sustainability policy and former CSO for Dow Chemical; and
• Biju George, former executive vice president of DC Water, who global recognition as leader in water treatment technology and science.

How the funding fits into the company's long-term strategy

Sankaran explained what the funding would mean long-term for KETOS: "We will continue to further our mission of providing real-time water analytics and intelligence to enable smarter and more sustainable farms, cities, and industries."

KETOS offers real-time on-site testing for a wide range of contaminants, measured in parts per billion, and will use part of the funding to develop PFAS solutions. It's WAVE and SHIELD solutions combine hardware, software, connectivity, automated reporting, predictive analytics, and maintenance to automate water monitoring and testing as a fully integrated platform for a variety of industries.

Sankaran added: "KETOS systems and AI tools monitor over 45 billion gallons of water globally. The company generates instant ROI for its clients, and to date has provided them with over 282 million data insights and reduced over 2,400 metric tons of carbon in the process."