eSmart Systems Raises €30M to Advance AI-Powered Grid Inspections

Image source: eSmart System

Published on November 11, 2024

Norway’s eSmart Systems has secured €30M in funding to enhance its AI-driven solutions for inspecting and maintaining critical energy infrastructure. Led by TiLT Capital and with Quanta Services as a strategic partner, the investment aims to expand eSmart’s virtual inspections and grid digitalisation efforts in North America. Existing investors, including Equinor Ventures and Future Energy Ventures, also contributed, bringing total funding to €63M over the past two years.

eSmart’s flagship technology, Grid Vision, leverages AI to provide a data-driven, condition-based approach to infrastructure inspections. The solution captures and analyzes large volumes of asset data, enabling utilities to optimize maintenance schedules, reduce costs, extend asset lifespans, and improve safety standards. By offering detailed asset information and predictive analytics, Grid Vision allows utilities to identify potential issues before they escalate, enhancing network reliability and resilience.

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