US-based wind energy maintenance technology provider SkySpecs has completed a $17m series C round that included representatives of corporate investors Equinor, Evergy, UL and Statkraft.
McRock Capital, a venture capital firm that focuses on internet-of-things technology, led the round through its McRock iNFund, and fellow VC firms Capital Midwest Fund and Venture Investors also participated.
Energy utilities Evergy and Statkraft, power producer Equinor and safety and regulation technology provider UL invested through Evergy Ventures, Statkraft Ventures, Equinor Energy Ventures and UL Ventures respectively.
SkySpecs has developed a software platform that utilises technologies like artificial intelligence, unmanned aerial vehicles and machine learning to assess the status of wind energy installations and predict the most optimal time for proactive maintenance.
The cash will go to enhancement of SkySpecs’ Horizon asset management platform and recruitment across the US and Europe.
The company said it has now raised $29m altogether, including $3.7m in a 2015 series A round led by Venture Investors and backed by Huron River Ventures, Invest Michigan and unnamed angel investors.
Statkraft Ventures subsequently led SkySpecs’ $8m series B round in January 2018, investing alongside UL Ventures, Venture Investors and Huron River Ventures.
