Swedish grid inspection company Arkion, formerly known as Skyqraft, has raised $4 million in a recent funding round, bringing its total funding to over $10 million.
Advancing Grid Inspection Technology
Arkion aims to address the growing challenges of energy consumption and the need for reliable and long-lasting energy infrastructure. The company provides faster, more accurate, and sustainable inspections of energy grids. Currently, 90 percent of grid defects go undetected, leading to an estimated $2 trillion in grid maintenance costs by 2030. Arkion’s end-to-end, cloud-based AI platform offers grid owners enhanced visibility and actionable insights into their physical assets, helping to improve grid reliability and longevity.
Funding and Investment
The funding round was led by Subvenio Invest, with participation from existing investors such as Neptunia Invest and Antler, along with new investments from several business angels.
Strategic Development
Oscar Westergård, Partner at Antler, emphasized the importance of Arkion’s work in facilitating energy conversion. He stated, “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 newly secured funds will be directed towards continued product development, increasing technical scalability, and expanding market presence to meet growing demand.
By enhancing its platform, Arkion aims to support the energy sector in maintaining and expanding its infrastructure efficiently and sustainably.
