AiDash, a San Jose, CA-based enterprise SaaS company making infrastructure industries climate-resilient and sustainable with satellites and AI, raised $50M in Series C funding.
The round, which brought the total amount to $83M, was led by Lightrock, with participation from SE Ventures, G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, Edison International, Shell Ventures, and additional strategic investors.
The company intends to use the funds to increase its headcount, establish a European HQ, and scale to meet growing international demand.
Led by CEO Abhishek Singh, AiDash provides SaaS solutions which enable customers in electric, gas, and water utilities, transportation, and construction to become climate-resilient and sustainable with satellites and AI. Its suite of satellite-first products include the Intelligent Vegetation Management System™ (IVMS™), which enables utilities to identify vegetation risks before they damage the grid and optimize maintenance cycles, and the Intelligent Sustainability Management System™ (ISMS™), which is an essential tool for organizations seeking to comply with the UK’s mandatory Biodiversity Net Gain laws introduced under the Environment Act 2021. In addition to growing interest in the U.S. and the UK, AiDash is gaining growth momentum in Europe, Canada, Australia, and New Zealand. The company has more than 150 customers worldwide and has been more than doubling its annual recurring revenue (ARR) every year since the company’s inception in 2019.
FinSMEs
23/01/2024