The company extends its Series C round to meet demand from new investors, including Lightsmith Group and Marubeni Corporation.

April 30, 2024 06:00 AM Pacific Daylight Time

SAN JOSE, Calif.–(BUSINESS WIRE)–AiDash, an enterprise SaaS company making critical infrastructure industries climate resilient and sustainable with satellites and AI, today announced the official closing of its Series C funding round at $58.5 million. The company’s Series C round, initially at $50 million, was oversubscribed and drew in additional investors, including leading private equity firm Lightsmith Group, and Japanese conglomerate, Marubeni Corporation. This brings the company’s total funding raised to date to $91.5 million.

As we prepare for the next 100 years, it is more important than ever to ensure that we have reliable and sustainable infrastructure, and the ability to better predict, prepare, and manage the impact of climate-related events.–Abhishek Singh, CEO of AiDash

The $58.5 million Series C was led by impact investor Lightrock and positions the company to successfully execute on its global growth ambitions with a world-class mix of investors. Lightsmith’s investment brings additional expertise in climate resilience and sustainability. The Series C round included a new utility investor, Duke Energy, plus previous strategic North American utility investors National Grid and Edison International; it also included new strategic investors Sabanci Ventures in EMEA, and Marubeni Corporation in the Asia-Pacific region. All other investors from prior rounds also participated, including SE Ventures, G2 Venture Partners, Benhamou Global Ventures, and Shell Ventures.

“We are humbled by the incredible interest from global investors and partners in our company’s mission and our satellite-first products that will help critical infrastructure industries around the world become more sustainable and climate-resilient,” said Abhishek Singh, Co-founder and CEO of AiDash. “As we prepare for the next 100 years, it is more important than ever to ensure that we have reliable and sustainable infrastructure, and the ability to better predict, prepare, and manage the impact of climate-related events.”

About AiDash

AiDash is making critical infrastructure industries climate-resilient and sustainable with satellites and AI. Using our full-stack SaaS solutions, customers in electric, gas, and water utilities, transportation, and construction are transforming asset inspection and maintenance – and complying with biodiversity net gain mandates and carbon capture goals. Our customers deliver ROI in their first year of deployment with reduced costs, improved reliability, and achieved sustainability goals. Learn more at www.aidash.com.

Contacts

AiDash
Carmen Mantalas
GMK Communications for AiDash
carmen@gmkcommunications.com

(c)2024 Business Wire, Inc., All rights reserved.