NEW YORK, NY., April 29, 2024 — Lightsmith Group (“Lightsmith”), a global sustainable private equity firm, announced its investment in “AiDash” (or the “Company”), an enterprise SaaS company making critical infrastructure climate resilient and sustainable with satellites and AI. The investment extends AiDash’s oversubscribed Series C round to $58.5 million.
Lightsmith’s investment will enable the Company to expand its software and analytics solution for vegetation management, biodiversity assessment, and other applications that support climate resilience, adaptation, mitigation, and other benefits globally, including in developing countries. Lightsmith joins AiDash’s Series C funding round alongside existing and new investors including Duke Energy, Lightrock, SE Ventures, G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, Edison International, Shell Ventures, Sabanci Climate Ventures and Marubeni Corporation. Lightsmith will join AiDash’s board as an observer.
“Climate change creates unprecedented physical risks to critical infrastructure, generating a growing and unavoidable opportunity for technologies to better predict, understand and manage increasing vulnerability at scale,” said Jay Koh, Managing Director at the Lightsmith Group. “AiDash is uniquely positioned to enable utilities and other asset owners and operators to anticipate and avoid disruptions threatened by climate change, saving costs and delivering reliability. AiDash has a global opportunity to contribute to climate resilience. Lightsmith is excited to work with AiDash in its next phase of growth.”
Founded in 2019, AiDash is an AI-first, satellite-powered vertical SaaS company leveraging 3rd-party high-resolution, multispectral satellite imagery and SAR data from existing satellite constellations to power proprietary AI models that improve the efficiency of operations and maintenance activities for critical infrastructure managed by global utility, energy and other asset owners.
“AiDash is proud to add Lightsmith as an investor and honored to have them join as an observer on our board, given their global network of relationships and unique expertise in climate adaptation,” said AiDash Co-Founder and CEO Abhishek Singh. “Having the support of Lightsmith and our other investors is a key component in helping us reach our mission of making critical infrastructure industries more climate-resilient and sustainable with satellites and AI.
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About Lightsmith Group
The Lightsmith Group is a sustainable private equity firm that invests in companies that address critical societal needs. Lightsmith invests in growth-stage companies providing technology-enabled business services and solutions in the areas of energy, water, food and agriculture, and climate resilience. For more information on The Lightsmith Group, please see: www.lightsmithgp.com.
About AiDash
AiDash is making critical infrastructure industries climate-resilient and sustainable with satellites and AI. Using our full-stack SaaS solutions, customers in electric, gas, and water utilities, transportation, and construction are transforming asset inspection and maintenance – and complying with biodiversity net gain mandates and carbon capture goals. Our customers deliver ROI in their first year of deployment with reduced costs, improved reliability, and achieved sustainability goals. Learn more at www.aidash.com.
