Swedish grid inspection company Arkion (formerly known as Skyqraft) has raised $4 million, bringing its funding to over $10 million.
Arkion provides faster, more accurate, and more sustainable energy infrastructure inspections in response to the challenges posed by increasing energy consumption and securing grid reliability and longevity.
Today, 90 percent of grid defects go undetected, with an estimated cost of grid maintenance reaching $2 trillion to support current reliability by 2030. Arkion's end-to-end cloud-based AI platform provides visibility and actionable insights into grid owners' physical assets.
Subvenio Invest led the round with participation from existing investors such as Neptunia Invest, Antler as well as new investment from several business angels.
According to Oscar Westergård, Partner at Antler:
”Arkion's work is crucial to facilitating energy conversion by providing the electricity grids with the insights needed to maintain and expand their infrastructure.”
The funds will be used in continued product development to increase technical scalability and market presence in response to growing demand.