eSmart Systems provides AI-based inspection and maintenance solutions for critical energy infrastructure, serving electric utilities and grid operators. The company offers the Grid Vision® portfolio for inspection management and asset information management, using AI, machine learning, and data analytics. Grid Vision enables a data-driven, condition-based approach to infrastructure inspections. eSmart Systems positions its products and services for global utility customers. The company recently raised €30 million and plans to use the funds to accelerate growth. Founded in 2012 and headquartered in Oslo, the business focuses on improving inspection and maintenance workflows for grid operators. eSmart Systems is a Norway-based firm that develops AI-driven inspection and asset-management solutions for utilities. Its core product, Grid Vision, provides inspection management and asset information management with a data-driven, condition-based approach to cut costs, improve safety, improve asset data quality, and extend asset life. The company has more than 20 years in the field and serves global customers, including Naturgy, Xcel Energy, and E.ON. Earlier this year eSmart acquired Stavanger-based Verico, an Enterprise Asset Management company, to strengthen its international presence and expand its platform. The company says the newly raised funds will accelerate commercial development and international growth. Management highlights investor strategic support and the company’s positioning to help grid operators address energy security challenges and increased infrastructure vulnerability from extreme weather. eSmart Systems, based in Halden, Norway, builds AI-powered software for inspections of powerlines, grid maintenance planning, and energy flexibility optimization. The company is led by CEO and founder Knut Johansen and delivers solutions that oversee electricity operations for 48 customers in seven countries, including Norway, Denmark, the United Kingdom, and the U.S. eSmart intends to use the recent funding to expand internationally across American and European markets. The firm is a Microsoft Partner, and its CTO, Erik Aasberg, has been appointed a Microsoft Regional Director. The product set focuses on asset health monitoring and analytics to support grid operators and utilities. eSmart Systems offers a Microsoft Azure–based scalable software platform that processes, analyzes and visualizes large amounts of data in real time to optimize operation and performance of applications. The platform is aimed at the digital energy industry and smart cities. The company serves customers in Norway, Europe and the United States. It is led by founder and CEO Knut H. H. Johansen. In 2015 the company reported a turnover of NOK 40m. Following the investment by Kongsberg Digital, eSmart entered into a partnership to deliver digital development and services for advanced analytics and machine learning to power-sector customers.

Total raised

$121M

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2024