- Leading satellite analytics company AiDash announced it has raised $6 million in Series A funding led by Benhamou Global Ventures and National Grid Partners
Leading satellite analytics company AiDash announced it has raised $6 million in Series A funding led by Benhamou Global Ventures (BGV) and National Grid Partners (NGP). This round of funding will be used to increase product innovation, hire new talent, and further plans for global expansion.
During a time when wildfires, hurricanes, pipeline leaks, and power outages have been catastrophic to the utility and energy industries, AiDash has been helping mitigate problems through the use of satellite data and artificial intelligence at scale.
AiDash utilizes high-resolution multispectral satellite imagery coupled with AI to transform operations and maintenance (O&M) activities such as Vegetation Management, Remote Monitoring & Survey, and Disaster and Disruptions Management for global utility and energy customers.
And 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.
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. And BGV partner Yashwanth Hemaraj and NGP director Andre Turenne will join the Board at AiDash.
KEY QUOTES:
“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. The funding will allow us to boost deployment of satellite analytics as the technology of choice for automated operations & maintenance.”
— AiDash CEO and co-founder Abhishek Vinod Singh
“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
“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.”
— Yashwanth Hemaraj, Partner at BGV
