New Delhi, Jan 24 (PTI) California-based technology startup AiDash, which has more than 80 per cent of its staff in India, has raised USD 50 million (around Rs 415 crore) in a funding round led by investment firm Lightrock.
The company plans to use the funds to significantly increase its headcount, including in India, establish a European headquarters and scale up to meet growing international demand.
"We currently have 300 employees globally of which 250 are in India today. We are looking to double the headcount to 600 globally by the end of 2024.
"We plan to hire 150 people in India in 2024 in various departments, including product management, engineering, data science, design and analytics," AiDash's Co-Founder and Chief Product and Technology Officer Rahul Saxena said in a statement.
With the latest funding, the company has so far raised USD 83 million.
The company uses satellites and AI to provide solutions that improve the resilience of critical infrastructure by 5-15 per cent, increasing client operational efficiency.
"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 AiDash to more markets," Saxena said.
Global impact investment firm Lightrock led AiDash's funding round, with Partner Ashish Puri joining the company's board of directors.
SE Ventures, a global venture fund backed by Schneider Electric, also participated in the funding round alongside all of AiDash's previous investors, including G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, Edison International and Shell Ventures. PTI PRS RAM