Schneider Electric has agreed to purchase about 90% of AiDASH’s shares for $350 million in cash.

This deal marks a significant climate adaptation win for Lightrock, Shell Ventures, and Duke Investments.

Only about 10% of global climate finance goes to adaptation, so major exits like this are rare.

Schneider Electric, the Paris-headquartered energy management and automation company  with revenues of €38 billion in 2025, has agreed to buy about 90% of AiDASH’s shares in an all-cash deal, valuing the company at $350 million, according to its half-year results.

The French industrial giant said the acquisition is part of its larger AI strategy, as mentioned in its H1 results. The company also has a separate $3.1 billion deal to buy industrial data and AI software firm Cognite. Once the deal closes, AiDASH will become part of Schneider Electric’s Energy Management reporting segment.

What AiDASH does

AiDASH was founded in 2019 by Abhishek Vinod Singh, Rahul Saxena, and Nitin Das. The company is based in Palo Alto and also has offices near Washington, D.C. and in Bengaluru.

The startup uses satellite images and AI to help utilities spot vegetation risks, storm damage, and wildfire threats along power lines before outages or fires happen. This method replaces the manual, multi-year trimming cycles that most utilities still rely on.

For example, one Fortune 500 utility used AiDASH’s platform to monitor over 50,000 miles of distribution lines that had previously been checked by hand every four to five years. Today, AiDASH works with more than 140 utility customers and covers over 500,000 miles of power lines.

Tech Funding News covered AiDASH’s Series C round in January 2024, reporting a $50 million raise and the addition of Lightrock’s Ash Puri to AiDASH’s board. The startup later announced the round closed at $58.5 million after strong demand.

The investor list is the story

AiDASH has attracted major investors focused on utilities. In October 2020, it raised $6 million in a Series A led by Benhamou Global Ventures and National Grid Partners. A year later, G2 Venture Partners led a $27 million Series B. 

The Series C round in March 2024, led by Lightrock and totalling $58.5 million, included Sabanci Climate Technologies, Lightsmith Group, Marubeni, Duke Investments, Schneider Electric and its venture arm SE Ventures, along with returning investors like Shell Ventures, G2 Venture Partners, Benhamou Global Ventures, National Grid Partners, and Edison International.

Most of these investors are expected to exit after the deal gets regulatory approval, as investments in adaptation and resilience get less funding than those focused on mitigation. UNCTAD’s analysis shows that most climate finance has gone to mitigation projects, while adaptation projects remain underfunded even as risks from wildfires, storms, and heat increase.

A $350 million exit for a software company focused on adaptation is rare and shows that venture-scale returns are possible in this often underfunded part of climate tech.