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US: Water intelligence developer closes $10M financing round

KETOS, a water intelligence developer, closed on $10 million in additional equity financing. The new funding will advance KETOS' go-to-market strategy and 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.

"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," said Meena Sankaran, KETOS Founder and CEO.

KETOS offers water intelligence for industries, agriculture and water operators, helping them measure, manage and forecast water quality and efficiency. The company's fully integrated and autonomous solution detects 30+ water parameters including heavy metals, inorganics and nutrients.

"As global water demand continues to surge, KETOS offers efficient, turnkey solutions for companies and cities facing water quality and availability challenges," said Dan Levine, managing partner of Tenfore Holdings. "Tenfore is pleased to help this water intelligence leader expand their services for industrial, agricultural, mining, municipal, and regulatory use cases globally."

Product offering
KETOS' SHIELD helps customers mitigate their risk in real-time while operating more efficiently with real-time affordable, accurate and autonomously operating sensor systems built as an end-to end offering with a mutual partnership in mind compared to archaic status quo approaches of transactional hardware sales, manual calibrations and cost prohibitive models to monitoring. KETOS' PRISM solution enables companies and municipalities to measure, manage and forecast their water quality risk index and water re-use performance for operations, ESG reporting and compliance.

Led by New York- and Abu Dhabi-based Tenfore Holdings, with participation from the national security-focused venture firm, Danu Venture Group. They join existing investors Broadway Angels, Plum Alley Ventures, Plug and Play Ventures, and Accenture, which serves as both an investor and strategic resale partner.

On top of the funding news, KETOS also announced the appointment of two new Strategic Advisory Board members and two new Board Directors to support its growth trajectory.

They include:

  • Director - Jennifer Helle, North American Chemicals and Natural Resources Industry Lead for Accenture;
  • Director - 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;
  • Strategic Advisor - 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,
  • Strategic Advisor - Biju George, Former Executive VP of DC Water and globally recognized leader in water treatment technology and science.

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