Voda.ai, a Boston, MA-based provider of an AI-powered asset management solution for water and wastewater utilities, received an investment from Ferguson Ventures.
The amount of the deal was not disclosed.
The company intends to use the funds to concentrate on continued growth and distribution.
Led by CEO George Demosthenous, Voda.ai is a Software as a Service company that offers water and wastewater utilities an effective method for prioritizing repairs and capital improvement projects in their transmission, distribution and collection systems. The solution focuses on risk modeling, lead line management, leak monitoring, condition assessment and capital planning.
The software has analyzed over 1 million miles of pipe across 17 states and 6 countries.
Ferguson Ventures is the Corporate Venture Capital (CVC) arm of Ferguson plc (NYSE: FERG; LSE: FERG), a provider of expertise, solutions and products from infrastructure, plumbing and appliances to HVAC, fire, fabrication and more. Ferguson and Voda.ai have entered an exclusive distribution relationship in the US market, amplifying and accelerating Voda.ai’s ability to serve utilities.
FinSMEs
22/09/2023