The water management and leak-prevention solution provider for construction, commercial, residential, and industrial applications from Israel, WINT, was able to raise $35 million in a Series C funding round.
The investment round was co-led the two investment companies, Inven Capital (that previously invested in Woltair) and global software investor Insight Partners, together with Taronga Ventures, one of the world’s leading real asset technology investors, and other prop-tech and construction-tech investors joined this round.
WINT is set to use this investment to help drive continued growth and innovation in AI- and IoT-based solutions for managing water and mitigating water damage throughout a building’s lifecycle.
The investment is a reflection of the urgent need for WINT’s solutions across the globe as contractors, owners, tenants, and insurers seek solutions for mitigating the damage and cost of water leaks. It also reflects the increasing impact of global water stress and the urgency for water management solutions that prevent water waste and its associated carbon emissions.
Michal Mravec, the Investment Director at Inven Capital said: “As a climate tech investor, we were greatly impressed by WINT’s vision to bring sustainability and risk mitigation into water management, coupled with its ability to rapidly rise to market leadership in this fast-growing space,”
The director went on to express that WINT’s exponential growth, focus on customer value, cutting-edge technology, and ability to deliver globally are a uniquely powerful combination, therefore they’re excited about the prospect of working with this exceptional team to help drive WINT’s continued growth while making the world a better place.
CEO of WINT, Alon Geva mentioned that they’re excited to close this round at a time when water scarcity and climate change are becoming some of humanity’s greatest challenges, while the costs of water leak damage in buildings are reaching unacceptable levels for insurers, owners, developers and contractors.
Geva also expressed how thrilled they are by the opportunity to partner with Inven and with other world-leading real estate and climate tech investors, and said they are confident that their support and industry depth will help them solve these massive challenges for the world’s built environment.
WINT was founded in 2011 by Alon Geva and Moshe Ravid in Israel, and it now has created a water management solution consisting of AI-powered software and interconnected hardware that notifies users in case of potential leaks. The unit integrates into existing pipe systems, where it can learn the normal water flow, detect when things go wrong, and shut off malfunctioning parts before any damage is done.
