Island Water Technology’s Sentry closes Series A round

April 19, 2021

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Charlottetown-based Island Water Technologies said last week its Sentry subsidiary has closed a Series A funding round, with backing from two key ethical funds that can help it grow.

Sentry, which uses real-time bio-electrode sensors to collect and analyze waste-water data for utilities, received investment from Fort Collins, Co.-based Factor[e] Ventures and Germany’s SKion Water GmbH. Though the companies did not reveal the size of the round, a Series A round is generally thought to be something over $2 million.

Aside from the amount of money, Founder and CEO Patrick Kiely said the round is important because both these funds have the ability to help the company grow in key markets. Factor[e] has special strength in emerging markets, while SKion has a portfolio of other water technology companies around the world.

“We want to be central to the digitization and the optimization of waste-water treatment . . . and we know we have a unique tool that would allow the use of AI [artificial intelligence] and data analytics,” said Kiely in an interview. “We’re just really excited to bring on two partners that we think will help us to be recognized as the industry standard in the sector of waste-water treatment.”