US-headquartered AI-SaaS company AiDash, which has a significant presence in India, has closed its Series C funding round at $58.5 million, surpassing its original target of $50 million, according to a company statement.
The firm has roped in private equity firm Lightsmith Group as the lead investor in the current funding round. The total corpus raised by AiDash to date stands at $91.5 million.
Launched by IITians, the company has offices in Gurugram and Bengaluru.
Lightsmith’s funding in the current round brings additional expertise in climate resilience and sustainability, AiDash said.
The round also included a new utility investor, Duke Energy, plus previous strategic North American utility investors National Grid and Edison International. It saw the participation of new strategic investors Sabanci Ventures from EMEA and Marubeni Corporation from the Asia-Pacific region.
All other investors from prior rounds also participated, including SE Ventures, G2 Venture Partners, Benhamou Global Ventures, and Shell Ventures.
“Our satellite-first products will help critical infrastructure industries around the world become more sustainable and climate-resilient,” said Abhishek Singh, co-founder and CEO of AiDash, in a media statement.
AiDash focuses on making critical infrastructure industries climate-resilient and sustainable with satellites and AI.
“As we prepare for the next 100 years, it is more important than ever to ensure that we have reliable and sustainable infrastructure and the ability to better predict, prepare, and manage the impact of climate-related events,” said Singh.
