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SaaS Startup Bidgely Raises $26M Funding From Moore Strategic Ventures

SaaS Startup Bidgely Raises $26M Funding From Moore Strategic Ventures

Mountain View, California – Bangalore-based SaaS Company, Bidgely has announced closing a $26M round of strategic financing by Moore Strategic Ventures (MSV) to bolster its utility electrification and decarbonisation innovations deployed around the world.

The AI-powered SaaS Company’s round was also joined by Accurant International, an investment venture of Bahman Hoveida, Co-founder and ex-CEO of Open Systems International. The oversubscribed round also included existing investors, such as Future Energy Ventures, Georgian, and Constellation Technology Ventures.

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“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, Bidgely.

The company intends to use the funds to further enhance its innovation around decarbonisation and beneficial electrification solutions for both utilities and their customers. This includes digital customer engagement and home energy reports (HERs) as well as grid load management and load research advancements. The company will also continue integration strategies with partners like Salesforce, Itron and more. 

Led by CEO Abhay Gupta, Bidgely provides an AI-powered SaaS clean energy software platform known as UtilityAI, enabling energy companies and consumers to make data-driven energy-related decisions such as energy consumption, demographics, and interactions – into deeply accurate and actionable consumer energy insights. 

Earlier this year, Bidgely had raised funding from IvyCap Ventures to leverage technology and analytics to bring in operational efficiencies and improve customer experience, along with upgrading traditional infrastructure.

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This new investment will enable Bidgely to provide exclusively tailored solutions that support the country’s biggest utility needs: electricity theft prevention, grid stability, and electric vehicle (EV) accommodation. The company has now raised a total of $77 million in funding.

Bidgely has over 17 energy patents and retains 30+ data scientists dedicated to creating a passion for AI for utilities serving residential and commercial customers worldwide. 

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