WaterSmart Raises $900,000 To Help Utilities Promote Efficiency
Summary
The company’s co-founder Peter Yolles explained the concept of the technology in an interview with TechCrunch ahead of the funding announcement: “WaterSmart Software is really about creating a relationship between the water utility and the homeowner. According to Circle of Blue: “In the last year, the price of water in 30 U.S. metropolitan areas has increased an average of 9.4 percent for residential customers with medium consumption levels… Yet the median increase for medium consumption was 8.6 percent.” Steiner said the startup will use its new-found capital to complete pilot projects already under way with major water utilities in California, and to get beyond the proof of concept phase with their technology. The competition rewards businesses with technology that can curb, and help people cope with a growing, global water crisis. Scott Bryan, director of operations with ImagineH2O said: “Natural resources are over drafted, and there’s an increasing risk affiliated with climate change that makes water supplies more variable around the world. Though there are a lot of unknowns, here, the investment will help the company get proof points about how well software, including some game dynamics, can drive efficiency.”
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