eSmart Systems

eSmart Systems operates on a business-to-business model, generating revenue by providing its software solutions to utilities and service providers in the energy industry. The company has secured significant financial backing, raising approximately $136 million through multiple funding rounds, with notable investors including Kongsberg Group, Energy Impact Partners, Equinor Ventures, and Quanta Services. This funding is aimed at accelerating international growth and the ongoing development of its technology. The firm targets a market facing substantial challenges, including aging infrastructure and the increasing frequency of extreme weather events, positioning its solutions to enhance grid resilience and operational efficiency.

The company's core offering is the Grid Vision® portfolio, an AI-powered platform for the inspection and maintenance of critical energy infrastructure. This software transforms visual inspection data from drones, helicopters, or ground crews into actionable insights. Grid Vision® uses collaborative artificial intelligence to process imagery, identify components, and detect potential defects or risks, creating a digital twin of the power grid. This data-driven approach allows for condition-based maintenance, helping utilities to reduce inspection costs, improve safety, and extend the life of their assets. The platform is hardware-agnostic, integrating with various data systems and inspection devices to provide a comprehensive solution for asset information management. Its capabilities support wildfire mitigation, load growth management, and capital investment planning by providing objective, risk-based data.