Using satellites and AI, AiDash’s solutions improve the resilience of critical infrastructure by 5-15 percent, and have the potential to protect core industries’ assets and positively impacting human lives
AiDash, an enterprise SaaS company making critical infrastructure industries climate-resilient and more sustainable with satellites and AI, today announced that it received $50 million in funding, bringing the total raised to date to $83 million. The Series C round was oversubscribed, indicative of growing investor interest in proven, scalable, and effective climate technologies.
Global impact investment firm Lightrock led AiDash’s funding round, with partner Ashish (Ash) Puri joining the company’s board of directors. SE Ventures, a global venture fund backed by Schneider Electric, also participated in the round, alongside all of AiDash’s previous investors, including G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, Edison International, Shell Ventures, and additional strategic investors.
Funds will be used to fuel growth as AiDash anticipates nearly doubling its team of 300 over the next two years. The company will also establish a European headquarters and continue to expand internationally to meet growing demand.
This funding round comes amid a surge in demand for AiDash’s suite of satellite-first products, including its Intelligent Vegetation Management System (IVMS), which enables utilities to identify vegetation risks before they damage the grid and optimise maintenance cycles, and its Intelligent Sustainability Management System (ISMS), an essential tool for organisations 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.
“Our ageing infrastructure is breaking under the strain of environmental change, putting lives at risk,” said Rahul Saxena, Co-founder and Chief Product and Technology Officer of AiDash.
"Better tools and technologies are required to manage this growing risk and its potential future impact. Our combination of satellite technology and AI is capable of managing this risk and safeguarding at-risk systems, like those managed by utility companies, which often span huge geographical areas. With this funding, we look forward to expanding our reach and bringing the benefits of AiDash to more markets.”