May 1, 2024: AiDash, an AI-Saas firm focussed on climate-resilient and sustainable infrastructure, has declared the closing of its Series C funding round at $58.5 million.
Founded by serial entrepreneurs in 2019, backed by the knowledge that satellites and AI could transform remote monitoring of geographically distributed assets. The firm claimed to have identified electric utilities’ critical need for more effective vegetation management, further expanded scope quickly to deliver unique insights to all core industries.
According to AiDash existing software systems and traditional solutions have failed to transform operations, maintenance, and sustainability for core industries. But the AiDash platform uses satellite analytics and AI to monitor assets at scale and empower our full-stack, vertical SaaS solution.
“We are humbled by the interest from global investors and partners in our company’s mission and our satellite-first products,” said Abhishek Singh, Co-founder and CEO of AiDash.
“As we prepare for the next 100 years, it is more important than ever to ensure that we have reliable and sustainable infrastructure, and the ability to better predict, prepare, and manage the impact of climate-related events,” he added.
AiDash’s total funding till date stands at $91.5 million. The latest round was led by global private equity platform Lightrock. The latest funding is in addition to the $50 million raised by the company in January this year, which drew additional investors, including private equity firm Lightsmith Group and Japanese conglomerate, Marubeni Corporation. Duke Energy, North American utility investors National Grid, and Edison International also participated in the round.
Energy and climate technology-focused Sabanci Ventures and Tokyo-based Marubeni Corporation were also part of the Series C round. It also included Ooher investors from prior rounds, including SE Ventures, G2 Venture Partners, Benhamou Global Ventures, and Shell Ventures.
