FIDO AI Ltd Raises Series B Funding to Expand Global Water Resilience Solutions
FIDO AI Ltd, a software company specializing in AIled nonrevenue water reduction and water data insights, has successfully raised Series B funding to support its growth and scale in the global water management sector. The funding will be used to further develop FIDOs technology and expand its reach in water resilience and stewardship across various markets.
The investment round was led by CRH Ventures, the venture capital unit of CRH, a prominent provider of building materials solutions. CRH Ventures joins existing investors SKion Water GmbH, Emerald Technology Ventures, and others in supporting FIDO AIs mission. The strategic investment from CRH Ventures underscores its commitment to innovation in sustainable solutions for the built environment.
FIDO AIs management team, led by CEO Victoria Edwards, expressed enthusiasm for the partnership with CRH Ventures, noting the alignment of FIDOs technology with CRHs focus on transformative impact in water management. Eduardo Gomez, Head of CRH Ventures, highlighted the synergies between FIDOs AI technology and CRHs efforts to address global water challenges.
Additionally, FIDO AIs partnership with Oldcastle Infrastructure, a business under CRH in the United States, will enable the deployment of FIDOs AI for water infrastructure projects. Jason Jackson, President of Oldcastle Infrastructure, emphasized the importance of leveraging innovative technologies to tackle water loss issues and create a more sustainable future.
FIDO AIs advanced AI technology, developed in 2019, offers realtime leak detection and comprehensive water management insights. Through its FIDO Plus offering, the company supports corporate water replenishment programs and sustainability reporting. Major corporations like Microsoft are already utilizing FIDOs technology as part of their water stewardship initiatives.
The funding from CRH Ventures and other investors will propel FIDO AIs impact in global water management and infrastructure markets, driving innovation and sustainability in water resilience solutions.
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