VODA.ai, an AI-powered asset management solution for water and wastewater utilities, has announced a recent investment from Ferguson Ventures, the Corporate Venture Capital (CVC) arm of Ferguson.
VODA.ai's solutions help utilities make better-informed decisions using artificial intelligence. This collaboration with Ferguson, a leading North American value-added distributor serving the built-world industry, allows VODA.ai to concentrate on continued growth and distribution.
“This investment and expanded collaboration with Ferguson marks a significant milestone in our mission to support the water industry,” said George Demosthenous, CEO at VODA.ai. “Together, we will continue to innovate and deliver exceptional value to utilities across the country.”
VODA.ai offers water and wastewater utilities a method for prioritizing repairs and capital improvement projects in their transmission, distribution and collection systems. VODA.ai's software has analyzed over 1 million miles of pipe across 17 states and 6 countries.
"Ferguson is committed to building water-resilient communities by leveraging its business expertise," said Blake Luse, Managing Director at Ferguson Ventures. "We invested in VODA.ai to better support the U.S. utilities' infrastructure needs and prioritize critical repairs."
VODA.ai focuses on risk modeling, lead line management, leak monitoring, condition assessment and capital planning. Ferguson is a leading distributor in municipal waterworks, metering technology and treatment plant MRO supplies.
By combining VODA.ai's insights on pipe vulnerabilities and Ferguson's cutting-edge solutions and products, both entities can collaboratively enhance the longevity and reliability of water infrastructure systems.
"We pride ourselves in helping water utilities preserve water, their most valuable asset," said Darren Campbell, Ferguson's National Senior Director of One Municipal. "Our Ferguson Municipal Technology Solution team, together with VODA.ai, will help our customers focus on repairing and replacing their pipes with the highest risk of failure, empowering them to allocate their capital expenditure budgets most effectively."
Ferguson and VODA.ai have entered an exclusive distribution relationship in the U.S. market, amplifying and accelerating VODA.ai's ability to serve utilities.
