AiDash, a US-based enterprise SaaS company, has raised $50 million in an oversubscribed Series C funding round led by impact investment firm Lightrock while Indian non-banking finance company Ecofy has raised $10.8 million in an equity round from Dutch development bank FMO.
AiDash secures $50m in Series C funding
AiDash has raised $50 million in an oversubscribed Series C funding round led by impact investment firm Lightrock.
Schneider Electric’s SE Ventures participated in the funding along with existing investors including G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, Edison International and Shell Ventures, per a release.
AiDash plans to use the new capital to double its team of 300 over the next two years, to establish a European headquarters, and to meet growing international demand.
AiDash co-founder and chief product and technology officer Rahul Saxena said, in the release, “India is of great significance to AiDash’s operations because of its proven prowess in technology and the vast talent pool available here…We have just leased an additional 8,000 square feet of office space in Bengaluru, and we plan to hire 150 of the best and brightest minds in our product, engineering, data science, analytics, and other departments in India, this year alone.”
Founded in 2019, AiDash aims to make critical infrastructure industries climate-resilient and sustainable with satellites and AI.
Indian NBFC Ecofy raises $10.8m
Indian non-banking finance company Ecofy has raised $10.8 million in an equity round from Dutch development bank FMO, reported The Economic Times.
The company plans to use the proceeds to grow its loan book, fund its product diversification, and improve its credit rating, added the report.
Ecofy was set up in India in 2022 to finance green transition by providing loans to sectors including retail electric vehicles, rooftop solar, and SME loans for improving energy efficiency.