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.”