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AiDash Adds Duke Energy as Strategic Investor

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AiDash Adds Duke Energy as Strategic Investor

AiDash announced that it received a strategic investment from Duke Investments, LLC, a wholly-owned subsidiary of Duke Energy. These funds will be rolled into the company’s recently announced $50 million Series C funding round.

Duke Investments joins global impact investment firm Lightrock; SE Ventures, a global venture fund backed by Schneider Electric; and G2 Venture Partners; as well as Benhamou Global Ventures; National Grid Partners; Edison International; and Shell Ventures. Funds will be used to fuel growth.

The news was disclosed at DISTRIBUTECH International, the premier annual event for transmission and distribution utilities, showcasing cutting-edge technologies that power homes and businesses.

The additional investment comes amid a surge in demand for AiDash’s suite of satellite-first products, including its Intelligent Vegetation Management System, which helps utilities identify and manage vegetation risks along rights-of-way; Climate Risk Intelligence System for accurate outage forecasting due to storms and wildfires; Asset Inspection and Monitoring System, which helps utilities better manage their assets; and BNGAI, which helps organizations manage biodiversity programs.

These solutions enhance climate resilience, sustainability, and operational efficiency, leading to optimized O&M spend, improved reliability, and reduced weather-related incidents.

Duke Investments participated in the round after seeing how closely its investment priorities align with AiDash’s technology and vision for the future.

“Innovative companies like AiDash help make it possible for us to deliver reliable power to our millions of customers and to make progress on our ambitious climate goals,” said Casey Reedy, Corporate Development Director at Duke Energy.

AiDash products are already redefining grid reliability and resource efficiency. Its technology can reduce the number of vegetation-caused power outages during storms by 15%, boost grid reliability by 5-15%, and deliver Operations & Maintenance (O&M) cost efficiencies to clients of 10-20%, creating value for customers and delivering climate impact.

The company’s impact extends beyond cost-savings and includes safeguarding the environment and property by reducing the likelihood of wildfires caused by vegetation interfering with the safe operation of assets.

“Better tools and technologies are required to manage growing climate-related risks and enable the energy transition. Our combination of satellite technology and AI can protect essential systems, which often span huge geographical areas,” said Abhishek Singh, Co-founder and CEO of AiDash.

“With this additional strategic funding, we look forward to building on our existing relationship with Duke Energy to make an even greater impact.”

Drones Redefining Infrastructure Development

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Drones Redefining Infrastructure Development

Interview with Vipul Singh, Co-Founder & CEO of Aereo, a company that provides end-to-end drone solutions and use cases for sectors like infrastructure, mining, urban and rural.

Aereo is also contributing to national programs like SVAMITVA, showcasing its commitment to leveraging technology for societal advancements.

What are the key developments currently in the infrastructure sector?

The infrastructure sector is witnessing significant development, with enhanced connectivity and a focus on improving the quality of life in both urban and rural communities.

Investments are flowing into various facilities like roadways, sanitation, electricity distribution, and housing.

As a result, technology innovation and technology impact have improved these sectors, marking this an era of digitization.

A noticeable trend is the increasing involvement of startups in these traditionally outdated sectors, leading to technological innovations and a digital transformation that promises to enhance the productivity and efficiency of development projects.

What is the role of Geospatial, especially in next-gen infrastructure since drones are part of the solution?

Geospatial is just the nature of the data which has a lot to do with the geography and spatial positioning. It involves the collection and analysis of data related to the Earth’s surface, becoming a critical component of various sectors.

Drones offer a new means of collecting geospatial information with high resolution and detail. This data has the potential for detailed analytics, enabling the extraction of specific business-related information.

Geospatial technology is integral to planning, managing, and developing projects over time.

There’s still much to be done in India regarding the penetration of geospatial technology, with a need for indigenous products and solution development tailored to India’s unique challenges.

Regarding the drone sector, what are your thoughts on Last Mile connectivity? 

The primary issue before tackling Last Mile connectivity is the lack of accurate geolocation and geospatial information for much of the country. What we have now is pre-dated, low-resolution, low-accuracy data on which decisions are based.

Drones offer a solution by providing high-resolution and accurate datasets, especially for rural geographies and difficult terrains.

This foundational intelligence enables the planning of utilities and Last Mile delivery solutions.

In hilly terrains, where surface transportation is less efficient, drones can significantly reduce delivery times by operating in free airspace and ensuring precise location identification.

What is your roadmap ahead?  

We are focused on two main problem statements.

First, we aim to develop drone solutions that can be scaled up so that even rural citizens can easily operate drones for village monitoring. This involves significant work on making hardware more user-friendly and accessible.

Second, we’re investing in data analytics to enhance the value of the massive amounts of data collected by drones. Our goal is to enable multiple use cases from the same dataset, maximizing its utility.

Given the importance of collaboration for tackling large-scale problems in the geospatial space, what specific approaches would you suggest to startups for potential partnerships?

The presence and recognition of startups in the geospatial ecosystem is very important. It’s encouraging to see a shift in the status quo, with both users and providers open to new technological advancements.

Presenting our concern to the right audience and exploring potential synergies with other companies is the need. Access to the right people and collaboration is crucial for solving large-scale problems.