FIDO AI, an Oxford, UK-based software company focused on rapidly improving global water resilience through AI-led non-revenue water (NRW) reduction and curated water data insights, has raised Series B funding.
Investors
The round was led by CRH Ventures, with participation from existing investors including SKion Water GmbH and Emerald Technology Ventures.
CRH Ventures is the venture capital unit of CRH, a provider of building materials solutions. With access to a $250 million Venturing and Innovation Fund, CRH Ventures partners with and strategically invests in ConTech and ClimateTech start-ups across the entire construction value chain.
FIDO AI Use of Funds
The investment will help accelerate FIDO AI’s growth and expansion in the global water management market. The funds will support the management team in enhancing their commercial success and further developing corporate water stewardship initiatives.
About FIDO AI
FIDO AI is a global technology company that leverages deep learning from curated water data sets to enhance water management and community resilience. Its unique AI technology detects leaks and events in real-time on water pipeline networks, prioritizing them by size for effective response. FIDO AI collaborates with various stakeholders, including local utilities and corporations, to implement its technology and programs. Notable partnerships include collaborations with CRH through its Oldcastle Infrastructure business and multinational companies like Microsoft.
Funding Details
Company: FIDO AI Ltd.
Raised: Undisclosed
Round: Series B
Funding Date: October 2024
Lead Investor: CRH Ventures
Additional Investors: SKion Water GmbH, Emerald Technology Ventures
Company Website: https://fido.tech/
Software Category: Water Management
Source: https://www.businesswire.com/news/home/20241002497960/en/