Skyqraft Raises $3.8M in Oversubscribed Investment Round, Opens San Francisco HQ for North American Market Expansion

Skyqraft, the leading provider of faster, more accurate, inspections for energy infrastructure, announced today the closure of an oversubscribed investment round, securing $3.8M USD. The round was led by Subvenio Invest, Neptunia Invest, and Antler, providing both financial support and strategic guidance to solidify Skyqraft’s market position.

This new injection of funding will drive the advancement of Skyqraft’s AI product, catering to European and North American clients with an emphasis on enhancing speed and quality within its cutting-edge AI platform to accommodate larger clientele. Simultaneously, a dedicated US team is being established to facilitate expansion in a new market.

Today, 90% of grid defects go undetected with an estimated cost of grid maintenance reaching $2T to support current reliability by 2030. Skyqraft’s end-to-end cloud-based AI platform enables the energy transition by providing visibility and actionable insights into grid owners’ physical assets. Operating as the layer between data collectors, operations, and field teams, its platform combines sought-after sensor data including images, 3D point clouds, and thermal imaging, all in one place to detect 10x more defects in grids than traditional methods. Powered by AI, and quality assured by experts, grid owners can proactively manage their risk exposure, and optimize grid up time and their maintenance budgets.

“The electric grid is the backbone of our society and a key piece in the energy transition, yet it’s deteriorating rapidly. At the same time, energy demand is set to double by 2045. It’s these facts and the need for modernization that enabled us to secure an oversubscribed round. The need is clear and we’re here to support grid owners through this energy transition and into an electrified future,” says Louise Gauffin, CEO of Skyqraft.

Skyqraft’s vision is to be the global leader in decision analytics for critical infrastructure, empowering grid owners to drive an electrified future. With 15% of the home market already secured and a surge in demand amid the ongoing energy transition, the company is committed to expanding internationally, with multi-year contracts in place throughout Europe and North America.

On the heels of significant interest and traction with grid owners in the US, Skyqraft has just recently opened an office in San Francisco, marking its entry into the North American market. Already experiencing significant interest and client traction in the region, Skyqraft is collaborating with major power grid owners on ongoing Proof of Concepts (POCs).

The confidence of investors in Skyqraft has been bolstered by the company’s impressive client traction and multi-year agreements with influential utility companies including E.ON, one of the leading energy providers in Europe. Its technical product maturity and highly skilled team further solidify the belief in the company’s vision and capabilities.

Boilerplate:

Skyqraft provides faster, more accurate, and more sustainable inspections of energy infrastructure enabling power grid owners to navigate the challenges posed by increasing energy consumption and secure the reliability and longevity of their grids. Powered by AI, quality assured by experts, We offer modern grid inspection solutions, revolutionizing the way power grid owners assess and maintain their infrastructure. Our mission is to support grid owners in digitizing, and strengthening their existing grids, enabling them to enhance efficiency, reliability, and sustainability.

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Casey Stickles

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