Skyqraft secures €3.5M to optimise grid inspection technology

Stockholm-based visual data analytics provider for the linear infrastructure sector, Skyqraft, has raised €3.5 million in an oversubscribed investment round to improve energy grid infrastructure inspections and facilitate market expansion. The fundraising round saw participation from Subvenio Invest, Neptunia Invest, and Antler.

Skyqraft’s end-to-end cloud-based AI platform provides visibility and actionable insights into grid owners’ physical assets. The platform combines sensor data, including images, 3D point clouds, and thermal imaging, to detect ten times more defects in grids than traditional methods.

The company aims to aid in the global energy transition. With nations worldwide trying to transition to cleaner and more sustainable energy sources, the role of the electrical grid is becoming increasingly important.

“The need is clear, and we’re here to support grid owners through this energy transition and into an electrified future,” said Louise Gauffin, CEO of Skycraft.

The new funding will drive the enhancement of Skycraft’s AI product, emphasising speed and quality to accommodate a larger base of clients.

Skyqraft is committed to expanding internationally, with multi-year contracts throughout Europe and North America. The company has entered into long-term agreements with several utility firms, including E.ON, a prominent energy supplier in Europe. Additionally, it recently opened an office in San Francisco, marking its entry into the North American market.

AI platform for greener energy transition

The electric grid is a key piece in the energy transition, yet it’s deteriorating rapidly. Meanwhile, global energy demand is forecast to rise by 23 percent through 2045, according to the Organization of the Petroleum Exporting Countries (OPEC).

Skyqraft’s AI platform can help the global energy transition in several ways. By detecting defects in grid infrastructure early, the platform can help businesses and utilities avoid costly outages and repairs. This can lead to improved grid efficiency and reliability.

The AI platform can also help businesses and utilities to integrate more renewable energy sources into the grid. This is because the platform can help to identify and address the challenges of integrating renewable energy, such as intermittency and variability.

By helping businesses and utilities improve grid efficiency and integrate more renewable energy sources, the platform can help reduce greenhouse gas emissions.