PE Fund Investments
Power-sector focused space-tech co. AiDash raises $50-M led by Lightrock
Bengaluru- and San Jose, CA (USA)-based AiDash , a startup which uses artificial intelligence (AI) and satellites to spot weather risks on power lines, has raised USD 50 million in Series C funding led by Lightrock.SE Ventures, a global venture fund backed by Schneider Electric, also participated in the round, alongside AiDash’s previous investors such as G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, Edison International, Shell Ventures, besides additional strategic investors.The latest funding brings the total funding raised by the enterprise SaaS solutions firm to USD 83 million. AiDash will use the funding for growth. The company will establish a European headquarters and expand internationally and hire 150 professionals in India across product, engineering, data science and analytics domains.AiDash uses AI to search satellite images for problems and changes along power utility electric transmission lines, such as where vegetation has grown and whether trees are encroaching on lines.Apart from the US and the UK, AiDash claims to be gaining growth momentum in Europe, Canada, Australia, and New Zealand. It has more than 150 customers worldwide.
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