Motley Fool Ventures led a series B round for water-supply intelligence provider Ketos that also included Citi and Illuminated Funds Group.

US-based water intelligence and analytics provider Ketos has raised $18m in a series B round led by Motley Fool Ventures, the corporate venturing fund for financial advisory service The Motley Fool.

The round was also backed by investment bank Citi and business advisory firm Illuminated Funds Group as well as Rethink Impact, Ajax Strategies, Better Ventures, Plum Alley Investments and Broadway Angels.

Founded in 2015, Ketos offers connected sensors and cloud-based software to large consumers of water, such as industrial plants, to help them monitor the chemical composition of their water supply in real time.

The series B capital brought Ketos’s funding total to $30m, including $2.6m in seed capital from undisclosed investors in 2017.

The company secured $9m in series A funding in February 2019 from existing investors Rethink Impact and Better Ventures, Broadway Angels, Plum Alley, an affiliate of climate think tank Energy Innovation and various private investors.