#United States #Boston #Water Infrastructure #CRH Ventures #VODA.ai

CRH Ventures Accelerates Water Infrastructure Innovation with VODA.ai Investment

In a significant move towards improving water infrastructure management, CRH Ventures, the investment arm of CRH, has announced a Series A funding round for VODA.ai. This venture aims to harness artificial intelligence (AI) technology to assist utility companies in managing aging water systems more effectively. The investment has also seen participation from L-Stone Capital, underscoring the growing interest in innovative solutions for critical infrastructure challenges.

Founded in 2017, VODA.ai is headquartered in Boston and has developed a cutting-edge platform that empowers utilities with AI-driven predictive analytics. This technology assesses the condition and risks associated with pipe systems throughout transmission, distribution, and collection networks. Impressively, the platform has already analyzed over one million miles of pipeline across 26 U.S. states and six countries, providing utilities the ability to prioritize critical repairs and manage resources more efficiently.

Eduardo Gomez Mendoza, Head of CRH Ventures, stated, "This investment expands CRH's existing smart water management solutions and represents a significant step forward in our mission to support technologies that make infrastructure smarter, more resilient, and more sustainable." He emphasized VODA.ai’s position as a leading innovator in the space of AI-driven asset management, which is vital for utilities striving to offer safe and reliable water services to their communities.

The funding will not only facilitate the growth of VODA.ai but will also enhance its research and development capabilities, fostering further innovations tailored to meet the needs of municipal utilities and private water operators worldwide. This investment is complemented by a recently announced commercial partnership between VODA.ai and Oldcastle Infrastructure, CRH's premier water infrastructure business in North America. This partnership is set to enhance market access for VODA.ai and generate new collaboration opportunities.

George Demosthenous, the CEO of VODA.ai, remarked, "CRH provides more than just financial support; it brings invaluable global reach and deep expertise in infrastructure, along with a shared vision for innovation. We are eager to collaborate to scale our impact and assist utilities in making smarter, data-driven decisions."

The commitment of CRH Ventures to fund strategic initiatives that tackle some of the world's most pressing infrastructure issues underlines their belief in transformative solutions. Jason Jackson, President of Oldcastle Infrastructure, added, “This investment in VODA.ai reflects our dedication to innovative solutions that help address significant infrastructure challenges globally.”

About CRH Ventures and VODA.ai

CRH Ventures operates as a crucial component of CRH plc, a global leader in building material solutions. CRH focuses on making necessary investments in technologies that enhance the entire construction value chain, particularly in the realms of construction technology and climate technology. By providing solutions that improve infrastructure across all areas, CRH continues to lead in sustainability and resilience in building practices.

VODA.ai has carved out a niche as a SaaS provider of AI-driven solutions for water utilities, providing them with critical insights into the state and risk levels of their water and wastewater systems. This enables utilities to make informed decisions about repairs and investments, maximizing efficiency and resource allocation.

Oldcastle Infrastructure, a company under CRH, delivers extensive infrastructure solutions across the water, communications, and energy sectors. With a vast network of manufacturing capabilities and a strong operational foundation, they are positioned to support industries in modernizing and maintaining essential infrastructure, which is vital for powering and connecting communities.

This investment marks a promising advancement towards leveraging technology for smarter and more efficient water infrastructure management, paving the way for a sustainable future in utilities management.