VODA.ai Raises A Second Round of Funding for Its Artificial Intelligence Based "Virtual Pipe Condition Assessment" Solution to Predict Water Main Failures for Utilities Worldwide
The new investment round will enableVODA.ai to capitalize on its position as a leader in theapplication of Artificial Intelligence to serve the waterindustry globally.
BOSTON, Feb. 26, 2020 /PRNewswire/ -- VODA.ai is excited to announce an Innospark Ventures led round of fundraising from a group of investors, including the Massachusetts Clean Energy Center (MassCEC).
The new investment round will enable VODA.ai to capitalize on its position as a leader in the application of Artificial Intelligence to serve the water industry globally. Smart water and city leaders are deploying VODA.ai's technology to proactively manage their aging water main pipes against water loss, disruptive breaks, and premature pipe replacements.
Product innovation is a key area of focus for VODA.ai. The funding will allow VODA.ai to focus on expanding product offerings to further increase customer benefits.
"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."
About the Company
VODA.ai is an AI company founded in 2017 by experienced AI and water industry entrepreneurs. It helps utilities worldwide to make more informed decisions. It is headquartered in Boston, MA and operates in markets worldwide.
About Innospark
Innospark Ventures is a new breed of early stage investor. They invest in bold founders leveraging AI to create a differential impact on society.
About the Massachusetts Clean Energy Center
The mission of MassCEC, a quasi-public entity, is to grow the state's clean energy economy and help meet the Commonwealth's energy, climate, and economic development goals.
James C. Fitchett
Chief Operating Officer and Co-Founder
978-502-1782
[email protected]
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SOURCE VODA.ai
