AiDash Secures $50 Million in Series C Funding for AI and Satellite Tech Advancements

AiDash Secures $50 Million in Series C Funding for AI and Satellite Tech Advancements

San Jose-based enterprise SaaS company, AiDash, has successfully raised $50 million in a recent Series C funding round, bringing its total funding to an impressive $83 million. The round was spearheaded by Lightrock, with notable contributions from SE Ventures, G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, Edison International, and Shell Ventures, along with additional strategic investors.

AiDash specializes in leveraging artificial intelligence (AI) and satellite technology to fortify infrastructure industries against climate challenges. The funds raised will be strategically employed to expand its workforce, establish a European headquarters, and cater to the escalating international demand for its innovative solutions.

Led by CEO Abhishek Singh, AiDash offers cutting-edge SaaS solutions that empower organizations in the electric, gas, water utilities, transportation, and construction sectors to enhance climate resilience and sustainability. The company’s suite of satellite-first products includes the Intelligent Vegetation Management System™ (IVMS™), designed to identify potential vegetation risks before they pose threats to the grid, optimizing maintenance cycles. Additionally, AiDash provides the Intelligent Sustainability Management System™ (ISMS™), a crucial tool for entities striving to comply with the UK’s mandatory Biodiversity Net Gain laws introduced under the Environment Act 2021.

AiDash’s impact is not confined to the U.S. and the UK, as it is experiencing robust growth in Europe, Canada, Australia, and New Zealand. With a global customer base exceeding 150, the company has consistently doubled its annual recurring revenue (ARR) since its inception in 2019.

The California startup’s AI and satellite technology have found crucial applications in mitigating wildfire risks. By analyzing satellite images, AiDash identifies potential issues along power utility transmission lines, including vegetation growth and encroachment by trees. This technology has proven instrumental not only in preventing wildfires but also in complying with biodiversity reporting regulations, especially in the United Kingdom.

National Grid, an AiDash customer and investor, attests to the effectiveness of the technology in improving grid reliability. The company has reported measurable reductions in the number and duration of outages on its Massachusetts grid since implementing AiDash’s system to identify maintenance priorities.

In an interview, AiDash CEO Abhishek Singh emphasized the need for dynamic resource allocation as conditions change, highlighting the company’s commitment to providing adaptive solutions in the face of evolving challenges.

The funding round was led by Lightrock, with participation from key industry players, indicating a strong vote of confidence in AiDash’s mission to revolutionize infrastructure resilience through AI and satellite technology. As AiDash continues to expand its global footprint, these funds will play a crucial role in further advancing its innovative solutions and solidifying its position as a leader in the climate-resilience technology landscape.

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