Pani Raises Seed Round To Build Water Efficient Smart Home IoT Products | Markets Insider
AUSTIN, Texas, Sept. 7, 2018 /PRNewswire-PRWeb/ — Pani, a smart-home IoT company building consumer products that help people understand their water usage, incentive water conservation and reduce water bills, has raised $1M in seed round financing. The lead investor is Blake Chandlee, the former VP of Global Partnerships who joined Facebook in 2007 to lead its international expansion. Pani’s new capital will fund hiring, product development, and strategic initiatives with key go-to-market partners.
While today’s homes are becoming more digitally connected, water appliances and the plumbing that connect them remain primitive and off the digital grid. Meanwhile, water conservation mandates are becoming a critical initiative for water utilities across the US and the world. However, utility conservation programs are still largely comprised of expensive on-site water audits, ineffective email campaigns or physical mailers with no ability to close the accountability loop.