Pani, a Vancouver, BC, Canada-based software-as-a-service (SaaS) company focused on managing and improving water treatment, closed an $8M CAD funding round.
Funds include a seed equity round co-led by Blue Bear Capital and Blue Coast along with participation from Mazarine Ventures and Humanitas, as well as contributions from Sustainable Development Technology Canada (SDTC) and other government agencies. Blue Bear Capital, a California firm that invests in high-growth AI technology companies across energy, infrastructure, and climate industries, also joined Pani’s board as part of the financing.
With this new funding round, the company will scale up its direct sales reach in order to reach thousands of treatment facilities and enable them to become more efficient, reducing their operational expenses, downtime, energy requirements, and overall greenhouse gas (GHG) emissions across the entire industry.
Since 2017, Pani has been developing a proprietary data driven platform that helps water treatment facilities improve yield and reduce energy and materials costs while using only a plant’s existing systems and existing sensor data. It is able to implement digital twin simulations and employ advanced analytics to achieve significant efficiency gains covering filtration, chemical treatment, maintenance programs, and more. The company’s hardware and CAPEX-free solution provides real-time operational insights and forecasting on how to improve water and energy use in plants, as well as predict optimal times to perform maintenance.
Led by CEO Devesh Bharadwaj, Pani is currently offering the platform as a multi-tiered subscription model, and is applicable to treatment facilities at all levels of digital maturity.
FinSMEs
15/10/2021