Swedish startup that uses AI, drones to automate powerline inspections secures €1.8M funding

Currently, utility companies inspect their powerlines manually by a team of people and helicopters. This process is expensive, time-consuming, and dangerous, and has a negative environmental impact. This is where Stockholm-based Skyqraft comes to play as it automates the powerline issues with the use of AI.

Bags €1.8 M seed funding

Skyqraft just announced that it bagged $2.2M (nearly €1.8M) seed funding in a round led by Subvenio Invest along with participation from Antler, Next Human Ventures and angel investors. The Swedish company announced that it will use the investment to further develop its AI detection features and accuracy. Also, it will focus on expanding its operations in Europe and the USA.

Currently, Skyqraft is working with the three largest utility companies in Sweden jointly that represent 85 per cent of the Swedish market. Additionally, Skyqraft is also negotiating a series of larger-scale pilots in the USA in 2021 with the global utility company, Iberdrola.

David Almroth, CEO at Skyqraft says, “By 2025 at the latest, utility companies will be able to fully automate their powerline inspections. We will do our part in protecting our environment while supporting the utility companies in this transition. By using data from drones and AI instead of manual inspection by helicopters, we reduce the average CO2 emissions of powerline inspections by 93%, while improving inspection accuracy and safety in a cost-efficient way.”

About Skyqraft

Founded in 2019 by David Almroth, Umar Chughtai and Sakina Turabali, Skyqraft deploys Artificial Intelligence to automatically detect powerline equipment and powerline issues. The company claims it will enable customers to conduct smarter and safer powerline inspections in a more cost-efficient and environmentally sustainable way. The company claims to the first to get the BVLOS license for flying fixed-wing drones in Sweden

Skyqraft uses data from drones and an AI-based risk assessment system to inspect powerline infrastructure automatically. The system can process high volumes of image data and detect equipment issues rapidly and with high accuracy. As per the company, its utility companies can shorten a 25km powerline inspection from as long as two days to just three minutes, thereby reducing costs, risks and environmental impact significantly. It is headquartered in Stockholm and was started at the Antler Sweden incubator.