WINT announces $35 million Series C funding round

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Aug 10, 2023, 07:00 ET

The investment, co-led by Inven Capital and Insight Partners, will drive the continuing growth of the leading AI-based water management solution for the built environment

NEW YORK, Aug. 10, 2023 /PRNewswire/ -- WINT Water Intelligence, the leader in cutting-edge water management and leak-prevention solutions for construction, commercial, residential and industrial applications, has completed a $35 million Series C funding round to drive continued growth and innovation in AI- and IoT-based solutions for managing water and mitigating water damage throughout a building's lifecycle.

The round was co-led by Inven Capital, a leading European climate tech fund, and global software investor Insight Partners, which also led WINT's B round. The round was joined by Taronga Ventures, one of the world's leading real asset technology investors, and other prop-tech and construction-tech investors, providing WINT strategic access to new markets.

"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," said Michal Mravec, Investment Director at Inven Capital. "Their exponential growth, focus on customer value, cutting-edge technology, and ability to deliver globally are a uniquely powerful combination. We're excited about the prospect of working with this exceptional team to help drive WINT's continued growth while making our world a better place."

The successful C round supports WINT's global market expansion and technological innovation. The investment reflects 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. The investment 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.

"We'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," said Alon Geva, CEO of WINT. "We're thrilled by the opportunity to partner with Inven and with other world-leading real–estate and climate tech investors, and we are confident that their support and industry depth will help us solve these massive challenges for the world's built environment."

WINT equips contractors, developers, owners and facility management teams with cutting-edge solutions to manage water throughout the lifecycle of a building, from construction to operations. WINT's AI-based solutions help companies eliminate water waste and its associated carbon emissions and prevent water damage on construction sites and in commercial and residential buildings.

For more information about WINT, visit https://wint.ai.

About WINT
WINT Water Intelligence is dedicated to helping businesses reduce their environmental footprint by preventing the hazards, costs, waste and environmental impact associated with water leaks and waste. Utilizing the power of artificial intelligence and IoT technology, WINT provides a solution for commercial facilities, construction sites and industrial manufacturers looking to cut water waste and its associated carbon emissions and to eliminate the impact of water-leak disasters. WINT has been recognized by Fast Company and CB Insights as one of the world's most innovative AI companies and has won multiple awards including "Next Big things in Tech" and Insurance Times' claims prevention technology award. It was also listed at the top 30% of Inc 5000 – the fastest growing companies in America in 2022. For more information about WINT, visit https://wint.ai.

About Inven Capital
Inven Capital is a EUR 500m European VC fund focused on later-stage climate tech investments in Europe & Israel, backed by CEZ Group and European Investment Bank (EIB). Inven Capital's strategy is to invest in innovative fast growing climate tech startups, with a focus on CO2 footprint reduction. It primarily focuses on later-stage growth investment opportunities with a sound business model proven by realized revenues and long-term growth potential. Since 2015, INVEN CAPITAL has selectively invested in fifteen companies including CyberX, Driivz, Taranis, Sonnen, Sunfire, tado, Forto & Zolar, with successful exits from three of them. For more information, visit www.invencapital.cz.

About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2022, the firm has over $75B in regulatory assets under management. Insight Partners has invested in more than 750 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

About Taronga Ventures
Taronga Ventures is one of the world's leading technology investors focused on driving innovation across real asset sectors such as real estate and infrastructure. The group consists of the RealTech Ventures funds, the RealTechX innovation programs, and Taronga Advisory, which provides institutional real asset owners and operator strategic advice on critical areas of sustainability and technology. Taronga Ventures' funds are backed by leading global institutional investors and major real asset owners and operators. Taronga Ventures covers markets across Asia-Pacific, North America, Europe and the Middle East. For more information, visit https://tarongagroup.com/.

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SOURCE WINT