Santa Clara, Calif., United States:
AiDash, a San Francisco Bay Area-based leading satellite analytics company, today announced that it has raised $6 million in a Series A funding round led by Benhamou Global Ventures (BGV) and National Grid Partners (NGP). At a time when wildfires, hurricanes, pipeline leaks and power outages have proved catastrophic to the utility and energy industries, AiDash is helping them mitigate these problems and be resilient using satellite data and AI at scale. The funding will be used to boost product innovation, hire new talent and further plans for global expansion.
AiDash uses high-resolution multispectral satellite imagery coupled with Artificial Intelligence to transform operations and maintenance (O&M) activities like Vegetation Management, Remote Monitoring & Survey and Disaster and Disruptions Management for global utility and energy customers. The company is already working with several Fortune 500 utilities in the United States and is set to expand its operations in Europe, Australia and Asia.
“As wildfires, hurricanes and COVID-19 pose new challenges to the utility and energy industries, they’re looking for innovative technologies to transform their O&M activities. At a time when drones and LiDAR have failed to yield results, satellite technology is breaking new ground. AiDash’s Intelligent Vegetation Management System is the world’s only satellite-powered vegetation management system deployed at scale for large utilities,” said AiDash CEO and co-founder Abhishek Vinod Singh. “The funding will allow us to boost deployment of satellite analytics as the technology of choice for automated operations & maintenance,” he added.
Yashwanth Hemaraj, Partner at BGV, and Andre Turenne, Director at NGP, will join the Board at AiDash.
AiDash co-founders Abhishek Vinod Singh, Rahul Saxena and Nitin Das are serial entrepreneurs with successful exits and experience running Tier-1 VC-funded companies. All of them are alumni of prestigious IITs and they bring with them deep experience in the fields of engineering, data science and business.
“At National Grid Partners, our objective is to revolutionize the energy sector using emerging technology, and AiDash with its satellite analytics platform brackets it perfectly. We’re delighted to come together and pool interests with AiDash to create a smarter and future-ready industry today,” Lisa Lambert, Founder and President of National Grid Partners said.
“BGV’s investment thesis focuses exclusively on Enterprise 4.0 startups, a new wave of cloud-native ventures that combine artificial intelligence, intelligent automation and proprietary access to data to deliver actionable insights for enterprise businesses. AiDash clearly falls into that camp. Their AI models leverage satellite data to deliver millions of dollars of savings for utility companies through intelligent vegetation management applications. We believe they are particularly well-positioned to arm other core industries that have geographically dispersed critical assets with data-driven insights, improving system reliability and transforming operations,” said Yashwanth Hemaraj, Partner at BGV.
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