San Jose, Calif., United States:
AiDash, a main supplier of satellite tv for pc and AI-powered operations, upkeep, and sustainability options, right this moment introduced a strategic funding of $10 million from SE Ventures, a Silicon Valley-based international enterprise fund backed by Schneider Electric, the chief in digital transformation of vitality administration and automation. The capital will likely be used to drive local weather resilience for utility property by enhancing its satellite- and AI-powered vertical SaaS merchandise, together with Intelligent Vegetation Management System, Intelligent Sustainability Management System, and Disaster and Disruption Management System.
Power outages have gotten extra frequent as pure disasters intensify as a result of local weather disaster. As a consequence, the demand for dependable electrical energy and vitality infrastructure continues to extend. In truth, Climate Central revealed that from 2000 to 2021, 83 p.c of reported energy outages had been brought on by weather-related occasions together with wildfires, tornadoes, and hurricanes, which solely escalate because the local weather warms.
“Vegetation is the biggest cause of power outages and one of the most critical factors for grid resilience,” mentioned Abhishek Singh, co-founder, and CEO of AiDash. “Schneider Electric has a very robust portfolio of solutions related to grid resiliency and we see particularly strong synergy with their EcoStruxure Grid Asset Advisor offer. The strategic fit was so great that we didn’t want to wait until our Series C round – planned for 2023 – to work with Schneider Electric. Together we’re even stronger on our mission to modernize electric grids, prevent and minimize natural disaster damage, and fight climate change through AI and satellite technology.”
AiDash’s Disaster and Disruption Management System (DDMS) forecasts storm and wildfire outages and damages to plan shortly, and restore safely, for utilities in addition to vitality corporations, governments, and cities. The system works in close to real-time earlier than, throughout, and after a main pure catastrophe or excessive occasion. AiDash’s different merchandise, together with Intelligent Vegetation Management System (IVMS), are used to assist core industries grow to be extra resilient, environment friendly and sustainable, whereas DDMS is for emergency administration at scale. The newest financing will likely be used to additional improve the analysis and improvement of AiDash’s merchandise, rent new expertise, and broaden to extra international markets.
“Vegetation and disaster management are pressing challenges for utilities across the world and AiDash has developed a very scalable solution that not only delivers satellite analytics in an automated manner but also turns those insights into simple actionable decisions that operations teams can implement. We are thrilled to partner with AiDash in bringing their innovative technology to our customers,” mentioned Luis D’Acosta, head of the Digital Grid business at Schneider Electric.
In lower than 12 months, AiDash has seen almost 3X development in annual recurring income (ARR) year-over-year. The firm has doubled its worker headcount and buyer base, reaching over 75 utilities as prospects in 2022, together with Fortune 500 corporations. AiDash is continuous its mission to assist prospects deal with problems with catastrophe administration whereas sustaining sustainability.
To be taught extra about AiDash, please go to www.aidash.com.
About AiDash
AiDash is an AI-first vertical SaaS firm on a mission to rework operations, upkeep, and sustainability in industries with geographically distributed property by utilizing satellites and AI at scale. With entry to a continuous, close to real-time stream of essential knowledge, utilities, vitality, mining, and different core industries could make extra knowledgeable choices and construct optimized long-term plans, all whereas decreasing prices, bettering reliability, and attaining sustainability objectives. To be taught extra about how AiDash helps core industries grow to be extra resilient, environment friendly, and sustainable, go to www.aidash.com.
About SE Ventures
SE Ventures (SEV) is a international enterprise capital fund backed by Schneider Electric. SEV backs huge concepts and daring entrepreneurs who can profit from Schneider’s deep area experience and international buyer attain. SEV has been appearing as a strategic industrial accelerant for category-defining corporations corresponding to Augury, Claroty, Aquant, AutoGrid, Poka, Scandit, Volta and different startups spanning vitality, mobility, prop-tech, cybersecurity and industrial automation.
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