Start up focused on leveraging satellite imagery and AI to make critical infrastructure industries more climate-resilient and sustainable, has announced the closing of a $50 million (£40m) Series C funding round.
The third investment round of its kind, and one that was oversubscribed, brings the total investment raised by the company to $83 million (£65mn) and suggests a growing investor interest in proven, scalable, and effective climate technologies.
Led by Lightrock and backed by influential industry players like National Grid Partners, Schneider Electric’s SE Ventures, Edison International, Shell Ventures, and others, marks significant investor confidence in AiDash’s solutions and their potential to address challenges arising from climate change.
The funding will primarily be used to fuel global expansion, including establishing a European headquarters and scaling the team to meet international demand.
Founded in 2019, AiDash offers a suite of satellite-powered products supporting various sectors. One key offering utilises AI and satellite imagery to assist utility companies in identifying potential hazards along power lines, such as encroaching vegetation or damage from wildfires.
Another product helps organisations comply with new biodiversity reporting regulations by generating detailed surveys.
“Our ageing infrastructure is increasingly vulnerable due to environmental changes, jeopardising lives,” stated Abhishek Singh, AiDash’s co-founder and CEO. “We need better tools and technologies to manage these growing risks and mitigate their future impact. Our unique combination of satellite technology and AI offers a powerful solution for safeguarding critical systems, like those managed by utility companies, which often span vast geographical areas.”
“With this latest funding, we aim to expand our reach and bring the benefits of AiDash to a wider audience,” Singh added.
Lightrock partner Ash Puri highlighted the positive impact AiDash’s solutions generate for both businesses and the environment. “AiDash’s comprehensive software suite delivers significant returns on investment for customers, while creating positive effects for companies, communities, individuals, and the climate itself,” Puri explained.
“As the climate crisis intensifies, so will the demand for software solutions like AiDash that can protect vast networks of geographically dispersed assets. These solutions empower companies to deliver reliable services, comply with regulations, and minimise risks associated with extreme weather, wildfires, and habitat destruction.”
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