NEW YORK & MILPITAS, Calif.–(BUSINESS WIRE)–Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in KETOS, Inc., a data intelligence innovator that uses a proprietary technology platform to help organizations monitor and address water efficiency and quality. KETOS is the latest company to join Accenture Ventures’ Project Spotlight, an engagement and early investment program that connects emerging technology startups with the Global 2000 to enhance the strategic capabilities of Accenture, its ecosystem partners, and its clients.
As global demand for water continues to rise across agriculture, industrial and municipal processes and applications, over $80 billion is spent on water testing and compliance annually around the world. That number is expected to increase sixfold to a staggering $475 billion by 2030 as current methods of measuring water quality remain costly, laborious, and often inefficient.
With nearly $40 million in investor backing, KETOS’ mission is to solve this problem using a combination of robotics, data science and its software as a service (SaaS) platform to provide cost-effective and real-time water quality data through a 24/7 monitoring system. The company recently expanded its offerings to develop KETOS SHIELD, which monitors across more than 30 parameters, including a breakthrough with heavy metals like lead, copper and other constituents like ammonia, nitrates, sulfates and more, that are particularly important to determining the health and safety of drinking water.
“Water is a mission-critical issue that can create environmental crises if its value is undermined, but if managed intelligently and efficiently, it can also aid in solving for these crises and predicting others before they even occur,” said Tom Lounibos, managing director, Accenture Ventures. “For businesses to ensure they are using this scarce resource effectively, they need to be able to measure and monitor water quality instantaneously. Companies like KETOS can help manage the flow of data for our clients and partners as they continue to seek better measurement tools and capabilities to deliver on the promise of sustainability.”