Elewit decided to invest through its corporate venture capital (CVC) in HESStec because of its innovative character addressing the main challenges of the new energy model, focused on decarbonization, renewable energies, energy efficiency, storage, sustainable mobility and circular economy.
Elewit, Redeia's technological platform, has selected four startups in the 5th edition of its Venture Client Programme, which this time will focus on the development of pilot projects for cybersecurity in communication networks of substations; new equipment and materials for overhead power lines; a computer platform to provide more information for project management, and the revitalisation of marine ecosystems in areas where there are electric cables.
Elewit, Redeia’s technology platform, and Terna Forward, Terna’s CVC vehicle, have led the €1 million Seed funding round of Unusuals, a company specialising in using Artificial Intelligence (AI) for the maintenance of linear structures in the electrical and railway industries. This funding will help Unusuals continue developing its products and expand internationally. Furthermore, Elewit reinforces its CVC portfolio, currently comprising seven well-known startups, including HESStec, OktoGrid, and Nearby Computing.
Elewit, Redeia-s technology platform, is always searching for disruptive solutions to impact the energy and telecommunications sectors. As drivers of change and catalysts of innovation, they invest through their Corporate Venture Capital in early-stage startups with strategic impact on the group.
- OKTO GRID is a company specialised in the digitalisation of electricity assets to boost the predictive maintenance of infrastructure.
- The Danish company joins a portfolio that already includes Zeleros, CounterCraft, Nearby Computing, HESStec and Aerolaser.