Total amount raised
$91.5 Millions
Latest funding date
1/1/2024
Location
AiDASH has successfully raised funds through multiple rounds, with the latest being a Series C round closed on January 23, 2024. The company is backed by 11 investors, including notable names like G2 Venture Partners and SE Ventures.
Keep reading to explore the intricacies of AiDASH's fundraising journey and the investors supporting this innovative platform.
What Is AiDASH?
Founded in January 2019, AiDASH is headquartered in San Jose, California. The company leverages AI and satellite technology to manage critical infrastructure, focusing on improving reliability, reducing costs, and ensuring compliance.
AiDASH was established by Abhishek Vinod Singh, Nitin Das, and Rahul Saxena. Their innovative solutions cater to industries like electric and gas utilities, helping them manage and maintain assets more effectively.
With a team of 251-500 employees, AiDASH continues to grow, driven by its mission to make critical infrastructure industries climate resilient and sustainable.
How Much Funding Has AiDASH Raised?
- Series A
- Amount Raised: $6M
- Date: October 2020
- Lead Investors: Benhamou Global Ventures, National Grid Partners (NGP)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial AI and satellite technology solutions.
- Series B
- Amount Raised: $27M
- Date: October 2021
- Lead Investors: G2 Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand their customer base.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: November 2022
- Lead Investors: SE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional working capital for ongoing projects.
- Series C
- Amount Raised: $58.5M
- Date: January 2024
- Lead Investors: Lightrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth, expand internationally, and establish a European headquarters.
Total amount raised: $91.5M. Current valuation: Not publicly disclosed.
Key Investors
- Lightrock
- Details: Lightrock is a global impact investment firm that backs purpose-driven companies tackling the world’s biggest challenges. They led the Series C funding round for AiDASH.
- Investment Focus Areas: Healthcare, education, environmental sustainability.
- Notable Investments: PharmEasy, Dr. Consulta, Infarm.
- SE Ventures
- Details: SE Ventures is a global venture fund backed by Schneider Electric, focusing on energy management and automation. They participated in the Series C funding round for AiDASH.
- Investment Focus Areas: Energy management, automation, sustainability.
- Notable Investments: AutoGrid, Sense.
- G2 Venture Partners
- Details: G2 Venture Partners is a venture capital firm investing in companies driving sustainable transformation in traditional industries. They led the Series B funding round for AiDASH.
- Investment Focus Areas: Sustainability, industrial technology, emerging technologies.
- Notable Investments: Proterra, Luminar.
- Benhamou Global Ventures
- Details: Benhamou Global Ventures is a venture capital firm focused on early-stage enterprise software companies. They led the Series A funding round for AiDASH.
- Investment Focus Areas: Enterprise software, cloud technologies, cybersecurity.
- Notable Investments: Totango, 6dbytes.
- National Grid Partners (NGP)
- Details: National Grid Partners is the venture investment and innovation arm of National Grid, focusing on energy and utility-related technologies. They participated in multiple funding rounds for AiDASH.
- Investment Focus Areas: Energy, utilities, grid modernization.
- Notable Investments: SparkCognition, ClimaCell.
What's Next for AiDASH?
AiDASH is poised for significant growth, leveraging its recent $50 million Series C funding to expand into new international markets, including Europe, Canada, Australia, and New Zealand. The company plans to nearly double its workforce and establish a European headquarters, capitalizing on the increasing demand for climate-resilient technologies and compliance solutions.
With a strong investor interest and an oversubscribed funding round, AiDASH is well-positioned for future fundraising opportunities. The company’s consistent doubling of annual recurring revenue (ARR) since 2019 underscores its growth potential, making it an attractive target for further investment or strategic acquisitions.
However, AiDASH faces challenges such as scaling operations, managing a rapidly growing team, and navigating diverse regulatory environments. Competition from other AI and satellite-based solution providers also poses a potential hurdle. Despite these challenges, AiDASH's innovative approach and robust market demand suggest a promising future.
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