Wirescan AS provides products and services for diagnosis and condition monitoring of cables, centered on its patent-pending Line Resonance Analysis (LIRA) technology. The LIRA system assesses and monitors general degradation of cable insulation caused by harsh environmental conditions such as high temperatures, humidity and radiation. It also detects local degradation of insulation resulting from mechanical impact or local abnormal environmental conditions. The company closed a NOK25m financing round to support its commercial efforts. Proceeds will be used to accelerate market entry of LIRA, targeting major players in the electric power and oil & gas industries. As part of the financing, Siemens Venture Capital’s investment partner Gerd Goette will join Wirescan’s board of directors.

Total raised

$4M

Funding rounds

1

Latest round

Equity

Latest activity

May 2010