Voda.ai secured Second Funding Round from InnoSpark Ventures

Voda.ai, a provider of Artificial Intelligence-powered "Virtual Pipe Condition Assessment" Solution, has secured second funding round. The announcement did not disclose the amount raised as a part of the latest funding round.

The round was led by the InnoSpark Ventures with the participation from the Massachusetts Clean Energy Centre.

Voda.ai is an AI company that serves the water utilities by helping them assess the condition of their pipes with the affordable software that ranks pipes by Likelihood of Failure. This helps the utilities to prioritize capital investments, save money, and conserve water.

Executive Opinion

CEO, Voda.ai, George Demosthenous said, "Innospark Ventures and MassCEC are leaders in AI and the environment. We are all excited about our potential to positively impact customers and the communities they serve."

Managing Director, Innospark Ventures, Dr Venkat Srinivasan, said, "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”.

MassCEC CEO Stephen Pike said, "VODA.ai's technology is helping municipalities address some of their greatest energy, environmental, and operational challenges. This fundraising fills a critical gap as the company grows its business."

Voda.ai's plans for newly raised Funds

The company, as of now, has plans to use the funds to continue to expand operations, its business reaches across the water industries across the globe, and increase its product innovation efforts.

Some of the smart water and city leaders are using the technology of Voda.ai to manage their aging water main pipes against disruptive breaks, water leaks, and premature pipe replacements.

The latest funding allows VODA.ai to leverage its leadership position in the application of Artificial Intelligence to serve the water industry globally, notes the announcement.