Bidgely, based in California and Bengaluru, announced the completion of a $26 million round of strategic investment on Thursday to support its UtilityAITM platform, which is used all over the world.
Accurant International, an investment initiative of Bahman Hoveida, co-founder and former CEO of Open Systems International, joined the round, which was led by Moore Strategic Ventures.
Existing investors such as Future Energy Ventures, Georgian, and Constellation Technology Ventures participated in the oversubscribed round.
Bidgely received money from IvyCap Ventures earlier this year to help Indian utility firms use technology and analytics to increase operational efficiencies and customer experience while also updating traditional infrastructure.
“Bidgely’s Silicon Valley roots and strong engineering arm in India play not only to our strength of providing AI technology to established markets like North America and Europe but also to our ability to address key issues in emerging markets,” said Abhay Gupta, CEO of Bidgely.