Swedish Startup Eneryield Secures ABB-Led Funding Round

Image credit: Eneryield

Published on June 5, 2024

Eneryield, a Swedish startup, that  offers fault forecasting and identification for electrical system has closed a seed funding round of an undisclosed amount with investment from ABB and Chalmers Ventures. Eneryield’s AI-based grid maintenance solution, developed over a decade of research at Chalmers University of Technology, aims to reduce unplanned outages by offering proactive maintenance through its software, Intelliview. The technology integrates machine learning predictions into existing power networks without needing additional hardware. The funding will help Eneryield bring its technology to market, addressing the growing demand for smart, local energy grid solutions. Financial details of the investment round remain undisclosed.

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