AiDash, a leading provider of satellite and AI-powered operations, maintenance, and sustainability solutions, today announced a strategic investment of $10 million from SE Ventures, a Silicon Valley-based global venture fund backed by Schneider Electric, the leader in digital transformation of energy management and automation.
The capital will be used to drive climate resilience for utility assets by enhancing its satellite- and AI-powered vertical SaaS products, including Intelligent Vegetation Management System, Intelligent Sustainability Management System, and Disaster and Disruption Management System, a statement said.
“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.”
“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,” said Luis D’Acosta, head of the Digital Grid business at Schneider Electric.
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