Latvian startup Aerones has secured $30 million in growth capital to scale its wind turbine inspection and maintenance business globally.
The company specializes in robot-enabled turbine inspection and maintenance and plans to use this funding round to grow its technical and sales functions, expand its presence in fast-growing markets including Africa and Australia, and bring new services to market.
According to Fortune Business Insights, the market is projected to grow from $36.27 billion in 2022 to $63.82 billion by 2029, at a CAGR of 8.4% and Aerones wants to be ready to meet that growing demand.
The funding round was co-led by investors Lightrock and Haniel. New investor Blume Equity also participated in the funding round, together with Change Ventures, Mantas Mikuckas, Metaplanet, Pace Ventures and Future Positive Capital.
Dainis Kruze, co-founder & CEO of Aerones, commented: “Global challenges mean our mission – ensuring the effective operation of global wind power capacity – and our robot-enabled solutions have never been more important or in demand. With the support of our new and existing investors, we look forward to further scaling our operations, investing in our technology, and enhancing our offering.”
Aerones’ mission is to use its proprietary technology to reduce the complexity and cost of inspecting, maintaining, and repairing wind power capacity.
They claim their robot-enabled solutions are up to six times faster and 40% more efficient than certified technicians with rope access, promising that downtime can be minimized by 4-6 times and idle stay reduced by 5-10 times.
Furthermore, robots are also less dependent on weather conditions and these machines can be controlled from the safety of a vehicle no matter the weather.
Aerones patented their basic inspection services in 2019. Now they offer a full suite of inspection, maintenance and repair services across North America, Europe, and South America.
Nigel McCleave from Lightrock, commented: “Aerones has developed a unique robotic platform that generates real ROI for customers in a huge growth market. We’re excited to be backing Dainis, Janis, and the whole Aerones team as they continue to reduce costs and inefficiencies in the global wind industry.”
Originally published at Power Engineering International.