The latest investment by CEZ Group’s Inven Capital fund is the Israeli start-up WINT. It focuses on using artificial intelligence, machine learning and data analytics for efficient water management in commercial and residential buildings, industrial facilities and construction sites. Its smart solutions are used by more than 300 companies, mainly in the US, UK and Israel.
WINT’s smart solutions can reduce water consumption in buildings by an average of 20 to 25 per cent and prevent large losses through detection and active shutoff of leaks. The key is to collect large amounts of data and analyse them in detail. On this basis, AI creates an overview of standard water consumption patterns in each location. The system combines data from various specific algorithms (for example, standard domestic water, hot and cold-water circuits, cooling towers and irrigation), monitors any anomalies, which it reports immediately, shuts the water off when applicable and helps identify areas with the greatest savings potential. For example, WINT was able to save over 274 million litres of water annually at the Empire State Building, saving 100,000 US dollars per year.
“Besides reducing emissions, water consumption is another priority area that Europe, the United States, and other countries are addressing intensively in the context of climate change,” said Tomáš Pleskač, Member of the Board of Directors and Director of the New Energy Division. “Water is a crucial raw material in the energy sector, without which electricity and heat cannot be produced. This is one of the reasons why we have joined the UN Global Compact CEO Water Mandate. We also believe that the use of artificial intelligence will play a key role in solving this pressing issue, which is why after careful consideration we have decided to invest in WINT.”
Drinking water in particular – its extraction, chemical treatment, distribution to customers and subsequent treatment at plants – is also quite emissions-intensive. According to WINT statistics, between 7 and 15 kilograms of CO2 emissions are attributable to the production of one cubic metre of drinking water. Hence, conserving water automatically means reducing emissions. More and more international companies are therefore setting ambitious targets for sustainable water management.
“We are closing this round at a time when water scarcity and climate change are becoming one of humanity’s greatest challenges, while the cost of damage caused by unnecessary water leaks in buildings is reaching unacceptable levels from the perspective of insurers, owners, developers and contractors alike,” added Alon Geva, CEO of WINT. “We are excited about the opportunity to work with Inven and other leading global investors in real estate and climate technology and we are confident that their support and industry depth will help us solve these enormous challenges for the world’s built-up environment.”
“Preventing accidents, reducing waste and using water more efficiently is a huge challenge,” stated Michal Mravec of Inven Capital. “Yet there are not too many players in the current market that offer comprehensive solutions suitable for various types of clients, be those construction companies, property developers, industrial clients, or commercial and residential facility managers. We are impressed by WINT’s approach and vision, and look forward to working with them.”
WINT intends to use the funds raised in the latest investment round led by Inven Capital mainly for further international expansion and development of its unique technology. In addition to venture capital funds, other global construction and real estate companies have also invested in the start-up. In last year’s round of investment, WINT raised approximately 15 million US dollars from investors.
