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VODA.ai successfully closes another round of funding to power its AI-based "Virtual Pipe Condition Assessment" solution to predict water main failures for utilities worldwide
Fremont, CA: VODA.ai closes its investment round led by Innospark Ventures and another group of investors that included the Massachusetts Clean Energy Center (MassCEC). The latest investment round will give VODA.ai the power to capitalize on its position as the pioneer in the application of AI to solve water industry concerns globally.
Smart water and city leaders have agreed to deploy VODA.ai's technology to proactively handle any crisis that exists concerning aging water main pipes, water losses, disruptive breakages, and premature pipe replacements. The critical area of focus for VODA.ai has been product innovation. The funding will enable VODA.ai to focus more on expanding its range of products to increase customer benefits.
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"Innospark Ventures and MassCEC are leaders in AI and the environment," VODA.ai CEO, George Demosthenous said. "We are all excited about our potential to positively impact customers and the communities they serve."
"We are thrilled to partner with VODA.ai as they embark on their journey to make water systems more efficient and more responsive to both consumers and the environment. George and the team are a shining example of what the Innospark team gets most excited about: AI for Good," said Dr. Venkat Srinivasan, Managing Director, Innospark Ventures.
"VODA.ai's technology is helping municipalities address some of their greatest energy, environmental, and operational challenges," said MassCEC CEO, Stephen Pike. "This fundraising fills a critical gap as the company grows its business."
VODA.ai mainly raised funding in the second round for its innovation in AI. The company designed an AI-based "Virtual Pipe Condition Assessment" solution that predicts any failures or discrepancies in the water main throughout the world. Since its inception in 2017, the company is majorly involved in innovation for AI-based solutions in the utilities sector around the globe. It helps companies all over the world to make informed decisions related to utilities.
Innospark Ventures belong to the new breed of investors who are focused on leveraging AI to create an impact on society. The founders of the company are bold and interested in adopting AI into real problems to create a differential impact on the communities.
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