Investments · Water infrastructure software
Kurita takes 50.1% of water pipe AI startup Fracta for about $37 million
- Investor
- Kurita Water Industries (Tokyo)
- In
- Fracta, Redwood City, California
- Value
- About $37M (about ¥4B) for 50.1% (fully diluted)
- Status
- Completed in 2018.
- Date
- 2018-05-30
Kurita Water Industries acquired 50.1% of Fracta, a Redwood City, California startup that uses machine learning to assess the condition of water pipes, for about $37 million (about ¥4 billion) on a fully diluted basis. Kurita planned to buy the remaining shares over up to four years from 2020.
Why it matters
The stake gave Kurita, a water treatment company, a data-driven service for the aging water networks of US utilities.
Sources
Kakehashi M&A News home
