VEQ increases ownership in drone software company Airpelago

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We are happy to announce that we’ve increased our ownership in drone software company Airpelago by leading their 8,5 mSEK seed round.

The funding will be used to support roll-out of large upcoming projects on the Swedish market, as well as for international expansion.

We have doubled our ownership stake to close to 20% in the company and increased our engagement significantly. Other co-investors in the round include Sustainable Energy Angels, We Are Angels and most significantly several of Airpelago’s employees.

“We are very proud that both existing and new investors, as well as our own employees, believe in our vision of better, greener and more efficient inspections of linear infrastructure” says Max Hjalmarsson, Co-founder and CEO of Airpelago.

“I’ve had the privilege to work with the team behind Airpelago for about a year now and I’m very impressed with what they have accomplished in such a short time. When we got the opportunity to increase our ownership in the company it was a no-brainer”, says Viktor Gällström, Partner at VEQ.

Founded in 2018, Airpelago specializes in developing automation software which streamlines large-scale inspections of linear infrastructure with drones. In 2022 the company secured a strong position on the Swedish market for power line inspections, with successful projects for Sweden’s largest electrical utility companies: EOn, Ellevio, Vattenfall and Svenska Kraftnät. Airpelago now turns its focus towards international expansion and has ongoing leads with customers in Norway, Finland, Germany, France and Poland. The company has also proven to be a front-runner in drone regulations, acquiring the first permit in Sweden which allows flying drones beyond line of sight without the need for restricted airspace.

“The key to our success is our world-class automation software. Thanks to the new funding we will reach more customers both in Sweden and around the world, helping them get a better picture of the status of their critical infrastructure while heavily reducing their carbon footprint” says Tobias Fridén, Co-founder and CTO of Airpelago.

For more information, contact:
Max Hjalmarsson, CEO
max@airpelago.com

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