We are proud to announce that our portfolio company FIDO Tech has successfully raised Series B funding led by CRH Ventures! The company's innovative water stewardship product, FIDO Plus, allows corporates to deploy FIDO's technology on local utility networks to rapidly repair large leaks. This Series B capital, together with the strategic partnership with Oldcastle Infrastructure, will be instrumental to scale the growth and multiply the impact of the FIDO Plus product. Congratulations to the FIDO team led by Victoria Edwards for their hard work! SKion Water GmbH Emerald Technology Ventures Punit Chiniwalla, Ph.D. Peter Henig Larry Kubal Antonio Canamas
Huge FIDO news. We have secured major investment to help us grow at scale and fulfil our mission to help create a world without water scarcity. FIDO AI has received Series B funding led by CRH Ventures, the venture capital unit of CRH, a leading provider of building materials solutions. CRH joins FIDO’s existing investors, including SKion Water GmbH and Emerald Technology Ventures. Our innovative FIDO AI technology pinpoints and sizes hidden non-revenue water challenges like leaks, enabling utilities to conserve vital resources and reduce operational costs. FIDO CEO Victoria Edwards said: “I am thrilled to announce this new investment in FIDO which builds on our existing partnership with CRH through its Oldcastle Infrastructure business in the United States. This investment not only secures our company’s future, but it will also allow us to grow at scale in markets we could not easily have reached and to really fulfil our mission of creating a world without water scarcity. “The strong strategic relationship with CRH is fundamentally the right one for FIDO. It places us in the right market ecosystem to position FIDO AI as the world’s go-to smart solution for water resilience and water stewardship across infrastructure build, maintenance, management, and sustainability reporting.” Read the full story here: https://lnkd.in/dzVfR467 By partnering with companies like CRH, FIDO can do even more to support sustainable water stewardship initiatives and contribute to a water resilient future. #watermanagement #AI #artificialintelligence #nonrevenuewater #waterstewardship #collaboration