AiDash has secured a $10m strategic investment from SE Ventures, a leading global venture fund backed by energy giant Schneider Electric.
AiDash is a SaaS company operating satellite and AI-powered solutions that help a broad range of industries better understand their operations.
Schneider Electric’s interest stemmed from the ability to predict wild fires and other weather events to help prevent power outages.
“Vegetation is the biggest cause of power outages and one of the most critical factors for grid resilience,” said 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 work with 75 companies globally and claim to reduce vegetation management expenses by 20%.