SkySpecs has closed a $17 million Series C round of funding. The Ann Arbor-based company experienced a heavy-growth year, tripling its staff, significantly building out its solutions offerings for the wind energy industry and reaching a landmark 30,000 fully autonomous inspections. SkySpecs has set its sights on using technology like AI, machine learning, robotics, and software, to optimize operations & maintenance in order to enable better decision making about repairs and proactive planning.
The round was led by McRock iNFund LP, an Industrial Internet of Things venture capital fund managed by Toronto-based McRock Capital. Other new investors in the round included Equinor Energy Ventures, Evergy Ventures and Westar Energy, alongside participation by existing investors including Statkraft Ventures, UL Ventures, Capital Midwest Fund and Venture Investors.
The investment follows on the heels of an $8 million Series B in January 2018, and brings SkySpecs’ total raised to $29 million.
"As a leader in the wind energy technology space, the SkySpecs' team presented a unique mix of skills across software analytics and robotic technology, combined with deep focus in a vertical market that is undergoing change," McRock Co-Founder and Managing Partner Scott MacDonald said in a statement. "SkySpecs is pushing the frontier of data-driven decision making to add technological advancements to the way turbines are kept healthy and technology is employed."
SkySpecs automates the operations and maintenance of wind energy assets through robotics, predictive analytics software, and industry expertise.