E
eSmart Systems
Energy · Halden, Norway · Founded 2012
Develops digital intelligence for the energy industry and smart communities MoreLess
Established in 2012 by co-founders Knut H H Johansen and Knut E Gustavsen, eSmart Systems is a Norwegian firm that provides AI-powered software for the energy sector. The company has its roots in the Institute for Energy Technology (IFE) environment, with the founding team's experience including the delivery of the world's first power exchange to Nord Pool in 1991. Headquartered in Halden, Norway, the company serves a global client base of over 50 utilities.
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.
Keywords: grid inspection, asset management, energy infrastructure, artificial intelligence, machine learning, utility software, power grid maintenance, digital twin, predictive analytics, infrastructure inspection, condition-based maintenance, transmission and distribution, energy technology, vegetation management, asset health, grid resilience, drone inspection, AI-powered analytics, virtual inspection, smart grid solutions, utility operations, infrastructure data, risk mitigation, energy asset visibility
Company overview
eSmart Systems company information
The essential company record, classifications and operating signals in one place.
- Status
- Acquired
- Founded
- 2012
- Headquarters
- Halden, Norway
- Employees
- 99
- Open positions
- None listed
- Dealroom signal
- 64.4
- Investment activity
- 1 companies · latest Jun 2021
- Capital deployed
- —
- Preferred round
- MERGER
Valuation & funding
eSmart Systems funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| GROWTH EQUITY VCOther financing | Oct 2024 | $48M | — | Undisclosed | ↗ |
| GROWTH EQUITY VCOther financing | Aug 2022 | $48M | — | Future Energy Ventures · Kongsberg Gruppen · Equinor Ventures · Arosa Capital Management | ↗ |
| GRANTOther financing | Dec 2021 | $36K | — | Innovation Norway | — |
| MERGEROther financing | Jun 2021 | $0 | — | Verico AS | ↗ |
| GRANTOther financing | May 2020 | $61K | — | Innovation Norway | — |
| EARLY VCOther financing | Jun 2019 | Equinor Ventures · Energy Impact Partners · Kongsberg Digital · Innogy Ventures | — | ||
| EARLY VCOther financing | Jan 2019 | Equinor · Nysnø Climate Investments | ↗ | ||
| DEBTDebt | Jan 2018 | Innovation Norway | — | ||
| GRANTOther financing | Aug 2017 | Innovation Norway | — | ||
| EARLY VCOther financing | Jan 2017 | Kongsberg Gruppen | — |
Financials
Revenue, earnings and profit over time
Reported history and available estimates. Estimated years are marked “E”; sparse fields are left blank rather than inferred.
| Year | Revenue | Growth | EBITDA | Margin |
|---|---|---|---|---|
| 2026 | $8.9M | 0% | −$5.2M | -58.1% |
| 2025 | $8.9M | 0% | −$5.2M | -58.1% |
| 2024 | $8.9M | 0% | −$5.2M | -58.1% |
| 2023 | $8.9M | -17.9% | −$5.2M | -58.1% |
| 2022 | $11M | +28.4% | −$5.2M | -47.7% |
| 2021 | $8.4M | +8.2% | −$5.2M | -61.3% |
| 2020 | $7.8M | — | −$5.2M | -66.3% |
Growth signals
eSmart Systems website traffic
Latest recorded traffic for eSmart Systems is 9K monthly website visits, up 109.3% over the last three months. eSmart Systems's team grew 0% over the past year.
Comparisons
eSmart Systems compared with similar companies
Dealroom’s weighted taxonomy model identifies the closest operating peers. Company identity and context stay open; selected comparison metrics preview what is available in the platform.
Capital deployed
eSmart Systems investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Talent graph
eSmart Systems's talent
Source: Dealroom Talent Intelligence.
Investors
14 investors on eSmart Systems's cap table
Sourced from Dealroom's funding and investor records.
Global footprint
Where eSmart Systems has talent and traffic
team presence
In the news
Latest news about eSmart Systems
Recent press, funding announcements, and product moves mentioning eSmart Systems — open to read from the original sources.
Market sentiment
What the market is saying about eSmart Systems
An AI-synthesized read of the highest-engagement posts about eSmart Systems on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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