FIDO AI Secures Series B Funding for Growth
FIDO AI, a pioneering provider of water data insights software based in Oxford, UK, has successfully raised an undisclosed amount in a Series B funding round aimed at bolstering its commercial growth and expanding its impact on global water management. This significant round was led by CRH Ventures, a strategic partner with whom FIDO has already established beneficial relationships through its Oldcastle Infrastructure business in the United States. Additionally, existing investors such as SKion Water GmbH and Emerald Technology Ventures participated in this funding round, demonstrating their continued commitment to FIDO AI's mission and vision.
The newly acquired funds will be instrumental in accelerating FIDO AI's growth trajectory, particularly in advancing corporate water stewardship initiatives and identifying strategic opportunities in related sectors such as building, equipment, and infrastructure delivery markets.
Under the leadership of CEO Victoria Edwards, FIDO AI has been at the forefront of integrating advanced technology and deep learning to analyze vast water data sets. This innovative approach allows the company to enhance global water management practices and bolster community water resilience on a large scale, marking significant strides in addressing critical water-related challenges.
FIDO AI's sophisticated artificial intelligence technology plays a crucial role in detecting leaks and other anomalies within water pipeline networks in real-time. By effectively ranking these issues based on their size and urgency, the company enables swift and prioritized responses to mitigate potential risks. The efficacy of their system is further validated through volumetric water benefit accounting, a recognized methodology for measuring water stewardship efforts as endorsed by the Alliance for Water Stewardship (AWS). With operations extending across five continents and office locations in both the UK and the US, FIDO AI is well-positioned to transform the landscape of water management. In light of the recent funding, Victoria Edwards expressed her enthusiasm, stating, “I am thrilled to announce CRH Ventures’ investment in FIDO, which not only secures our company’s future but also allows us to grow at scale in markets we could not easily have reached and to really fulfill our mission of creating a world without water scarcity.”
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