Aquaoso Technologies, a Folson, CA-based public benefit water tech company that reduces financial risk for lenders and investors by providing insight into the impact of water stress (when demand outpaces supply), completed a $2m funding round.
Backers included the family office of Alex Smith and Jessica Haywood of Otter Creek Investments. Smith will also join the board of directors.
The company intends to use the capital to further develop its advanced Water Security Platform and other products, as well as continue geographic expansion.
Led by Chris Peacock, CEO, Aquaoso provides a cloud-based software platform and proprietary Water Security Score™ which aggregates thousands of data sets to help organizations understand water risk in their investments, operations and supply chains by identifying the scale of water risk and its impacts down to an individual parcel of land.
After participating in the 2019 Techstars Sustainability Accelerator in Partnership with The Nature Conservancy, the company now serves more than 30 institutional customers representing some of the nation’s largest lenders, farm credits, community banks, global investment firms and national food brands. To date, the company’s innovative water risk management platform has generated nearly 7,000 reports and analyzed more than 2 million acres.