AiDash, an enterprise SaaS company, said it had raised $50 million in funding, bringing the total raised to date to $83 million. The Series C round was oversubscribed, it added.
Lightrock led the funding round, with Partner Ashish Puri joining the AiDash’s board of directors. SE Ventures backed by Schneider Electric, also participated in the round, alongside all previous investors, including G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, Edison International, Shell Ventures, and additional strategic investors, the firm said in a statement.
The funds will be used to fuel growth as the company anticipates nearly doubling its team of 300 over the next two years. It also plans to establish a European headquarters and continue to expand internationally to meet growing demand.
“Our aging infrastructure is breaking under the strain of environmental change, putting lives at risk,” said Rahul Saxena, Co-founder and Chief Product and Technology Officer of AiDash.
“Better tools and technologies are required to manage this growing risk and its potential future impact. Our combination of satellite technology and AI is capable of managing this risk and safeguarding at-risk systems, like those managed by utility companies which often span huge geographical areas. With this funding, we look forward to expanding our reach and bringing the benefits of the company to more markets,” he added.
