AiDash – an enterprise SaaS company making critical infrastructure industries climate resilient and sustainable with satellites and AI – announced that it received a strategic investment from Duke Investments, LLC, a wholly-owned subsidiary of Duke Energy. This funding round will be rolled into the company’s recently announced $50 million Series C funding round.
Duke Investments joined global impact investment firm Lightrock; SE Ventures, a global venture fund backed by Schneider Electric; and G2 Venture Partners; and Benhamou Global Ventures; National Grid Partners; Edison International; and Shell Ventures. The funding will be used to fuel growth. This news was disclosed at DISTRIBUTECH International, which is a premier annual event for transmission and distribution utilities, showcasing cutting-edge technologies that power homes and businesses.
The additional funding comes during a surge in demand for AiDash’s suite of satellite-first products, including its Intelligent Vegetation Management System (IVMS), which helps utilities identify and manage vegetation risks along rights-of-way; Climate Risk Intelligence System (CRIS) for accurate outage forecasting due to storms and wildfires; Asset Inspection and Monitoring System (AIMS), which helps utilities better manage their assets; and BNGAI, which helps organizations manage biodiversity programs.
These solutions enhance climate resilience, sustainability, and operational efficiency – which leads to optimized O&M spend, improved reliability, and reduced weather-related incidents. And Duke Investments participated in the round after seeing how closely its investment priorities align with AiDash’s technology and vision for the future.
AiDash’s products are already redefining grid reliability and resource efficiency. And its technology can reduce the number of vegetation-caused power outages during storms by 15%, boost grid reliability by 5-15%, and deliver Operations & Maintenance (O&M) cost efficiencies to clients of 10-20% – which creates value for customers and delivering climate impact. Plus, the company’s impact extends beyond cost-savings and includes safeguarding the environment and property by reducing the likelihood of wildfires caused by vegetation interfering with the safe operation of assets.
KEY QUOTES:
“Innovative companies like AiDash help make it possible for us to deliver reliable power to our millions of customers and to make progress on our ambitious climate goals.”
– Casey Reedy, Corporate Development Director at Duke Energy
“Better tools and technologies are required to manage growing climate-related risks and enable the energy transition. Our combination of satellite technology and AI can protect essential systems, which often span huge geographical areas. With this additional strategic funding, we look forward to building on our existing relationship with Duke Energy to make an even greater impact.”
– Abhishek Singh, Co-founder and CEO of AiDash
