SaaS Startups: AiDash Secures $50 Million in Funding; Seed-stage SaaS Startups are Included in the $25 Million Equirus InnovateX Fund
AiDash, a SaaS startup, raises $50 million in Series C round, led by Lightrock. Seed-stage SaaS startups are included in the $25 million Equirus InnovateX Fund launched Equirus Captial.
AiDash Raises $50 Million in Series C Funding
AiDash, a SaaS startup serving the electric, gas, and water utility sectors, has successfully secured $50 million in their latest funding round. This brings their total raised capital to an impressive $83 million.
In their announcement, AiDash mentioned that the series C round attracted more funding interest than anticipated. This shows that investors are increasingly excited about solutions for climate issues. This increased interest is happening because businesses are dealing with more problems caused by weather-related outages and hazards.
(Image Source: AiDash Website)
Lightrock, a global private equity platform, led the funding round. Other contributors include SE Ventures, G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, Edison International, Shell Ventures, and some more strategic investors.
Abhishek Singh, CEO of this Saas startup said: “Our aging infrastructure is breaking under the strain of environmental change, putting lives at risk…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.”
AiDash aims to use the acquired funds to expand its team and set up a European headquarters, addressing the growing global demand for its solutions. The company plans to double its current team of 300 within the next two years. These funds will play a crucial role in supporting AiDash’s mission of enhancing the climate resilience and sustainability of critical infrastructure industries.
Established in 2019, AiDash is dedicated to enhancing the climate resilience and sustainability of critical infrastructure industries through the integration of satellites and artificial intelligence. Their comprehensive SaaS solutions enable customers in electric, gas, and water utilities, as well as in transportation and construction, to revolutionize asset inspection and maintenance. Additionally, these solutions assist in meeting biodiversity net gain mandates and achieving carbon capture goals.
Seed-stage SaaS Startups are Included in the $25 Million Equirus InnovateX Fund launched by Equirus Captial
Equirus, a financial services company, today introduced the Equirus InnovateX Fund (EIF), a $25 million fund aimed at supporting early-stage technology startups, including SaaS startups.
Sunder Nookala, formerly in charge of technology and digital business at Equirus, along with Sadhika Agarwal, co-founder of Sudo Foods and an investment banker, will be managing the fund. With their combined expertise, EIF brings extensive knowledge and a proven track record in investments.
(Image Source: Equirus Website)
The Equirus InnovateX Fund plans to invest an average cheque size of $500,000 and $1 million across 15 to 20 seed-stage startups, primarily in sectors like SaaS, deep tech, fintech, and others. Additionally, the fund aims to provide strategic guidance, governance support, and aid in establishing sustainable enterprises for its portfolio companies. The Equirus InnovateX Fund is dedicated to empowering entrepreneurs to successfully navigate the challenges of the startup journey.
“Post 2022, there has been a discernible shift in investment approach. We expect this recalibration in venture investing to continue. The capital deployment will remain cautious and favor sustainable business models with robust monetization potential…We believe that Equirus InnovateX Fund is more than just a financial investment; it’s a strategic partnership aimed at catalyzing innovation, fostering growth, and contributing to the success stories of the next generation of tech leaders,” (Sunder Nookala, early-stage venture capitalist and Head of Tech and Digital at Equirus)
Founded in 2007, Equirus Capital is a full-service financial services provider. The company specializes in offering investment banking and related advisory services to Indian corporations. Serving as a key financial partner for many clients, Equirus excels in Private Equity, Mergers & Acquisitions, Equity Capital, Debt Capital, and Structured Finance advisory. Equirus boasts over 150 successfully closed transactions in areas such as capital raising and M&A.
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