AiDash has secured a $27 million Series B funding round — led by G2 Venture Partners with participation from BGV, National Grid Partners, and additional strategic partners, this round brings the company’s total funding amount to $33 million. AiDash will use the funds to expand its vegetation management and sustainability products, helping utilities, energy, and other industries with geographically distributed assets transform their operations and maintenance activities.
AiDash Intelligent Vegetation Management System (IVMS) is the only proven, satellite-powered, vegetation management system that automates operations and maintenance for large utility companies. The system combines hi-res multispectral satellite imagery and AI with data gathered on the ground to help customers make informed decisions that have impacts as critical as preventing a wildfire or reducing damages from an upcoming storm.
In the last year, AiDash has grown its customer count by six times, its annual recurring revenue by five times and its employee count by five times. AiDash signed its first customer in early 2020 and now has more than 30 customers residing in the United States, United Kingdom and Canada within the utilities, energy, transportation, water and wastewater, mining, and construction industries.
The new funds will be used to boost product innovation, hire new talent, and help AiDash expand globally, throughout North America, United Kingdom and Europe. AiDash will continue to improve its IVMS and expand its current product offerings to help the industries with geographically distributed assets tackle the issues of sustainability and disaster management.
“Wildfires were rampant in California when we first set out to launch AiDash, and utility companies were stuck following antiquated processes that required sending physical teams out to manually analyze thousands of miles of vegetation; a project that can take years to accomplish for just one utility alone,” said Abhishek Vinod Singh, AiDash Co-Founder and CEO. “Our Intelligent Vegetation Management System allows electric and gas utilities and other core industries to operate more efficiently, transforming their operations and maintenance activities. We’re excited to use this funding to grow our team and further develop our product offerings.”
AiDash is an AI-first vertical Software as a Service (SaaS) company enabling satellite and AI powered operations, maintenance and sustainability for industries with geographically distributed assets. AiDash uses high-resolution multispectral and SAR data from the world’s leading satellite constellations that are fed into its proprietary AI models to make timely predictions at scale. These AI models empower AiDash’s full-stack applications that transform O&M for utility, energy, transportation, water and wastewater, mining and construction companies. For more, visit www.aidash.com.