Ann Arbor, Mich.-based SkySpecs, a provider of automated drone inspections for wind turbines, has secured $8 million in Series B financing.
The financing was led by Statkraft Ventures, along with UL Ventures and Capital Midwest, with follow-on investments from Venture Investors, Huron River Ventures and additional existing investors.
Founders and Forbes 30 Under 30 honorees Danny Ellis and Tom Brady, along with the SkySpecs team, will use the investment to scale the company’s international operations and further develop the inspection software. The company says its 15-minute inspections require only the push of a button and no additional human oversight.
“We consider automation and standardization of O&M-related tasks the next big challenge in cost competition after hardware costs for renewable energy assets have dropped significantly over the last years,” comments Alexander Kueppers, investment manager at Statkraft Ventures. “SkySpecs is the fastest-growing inspection company in the wind sector, making rotor blade inspections more precise and safe while keeping operations at a lower cost compared to traditional methods. Their technological expertise, combined with scalable operations, is the key to grow the business worldwide.”
Alvin Vitangcol of Capital Midwest adds, “SkySpecs is a great example of the type of investment that we are looking to make. It is a Midwest team that has developed technology to solve a problem in an industrial market – uniquely addressing the inspection challenges in wind energy – and has been proven through rapid adoption by significant customers.”
SkySpecs is a member of the American Wind Energy Association (AWEA), WindEurope and the Commercial Drone Alliance. The company has previously announced partnerships with Siemens and UpWind Solutions (now owned by Vestas).