ITpipes Secures Investment for AI Pipe Inspection Software
ITpipes secured a strategic growth investment from Luminate Capital Partners, the companies said in a press release. The investment will support product and AI development for crews, engineers, utilities, municipalities and contractors that inspect wastewater and stormwater systems.
More than 300 utilities, municipalities and CCTV contractors use ITpipes software, according to the company. Its AiDetect product provides 97% accuracy in detecting defects and reduces coding and quality assurance time by at least 50%, the company said.
ITpipes plans to expand its software as a system of record for underground condition data, combining inspections, defect coding and asset history. Financial terms were not disclosed.
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