AI-powered SaaS startup, based in California and Bengaluru, Bidgely has announced that it has raised $26 million in the latest funding round. The funds raised will be used to boost its UtilityAI™ platform. The round was led by Moore Strategic Ventures and saw participation from Accurant International.
Existing investors including Future Energy Ventures, Constellation Technology Ventures and Georgian.
Speaking on the investment, Abhay Gupta, CEO of Bidgely, commented, “Bidgely’s Silicon Valley roots and strong engineering arm in India play not only to our strength of providing AI technology to established markets like North America and Europe but also to our ability to address key issues in emerging markets.”
He added, “India’s energy landscape, specifically, is evolving rapidly, and our work around theft detection and grid stabilisation goes to the heart of problems that cost the utility industry billions of dollars a year.”
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