# Heimdall Power AS

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/heimdall-power

- Industry: Internet
- Headquarters: Oslo, Norway
- Website: www.heimdallpower.com
- Total disclosed funding: $25M
- Latest round: Series B (Jul 16, 2024)
- Investors on record: 5

## About

Founded in 2016 and based in Oslo, Norway, Heimdall Power AS operates as an Internet-based company offering integrated solutions for grid companies that use sensors and software to monitor electric power lines. In July 2024, Heimdall Power AS raised NOK 270.39 million in series B funding co-led by investors NRP Zero and Orlen VC, with participation from other investors Eviny Ventures, Investinor, and Sarsia. The firm as of July 2024, has offices in Oslo, Norway, and Texas, US, and is led by its CEO, Jørgen Festervoll.

Heimdall Power is an innovator in the field of power grid optimization to enhance the efficiency and safety of high-voltage power grids globally. It develops intelligent sensors, known as Neurons, solutions like Heimdall AAR, DLR, and HEALTH, and a software platform designed to monitor and optimize overhead power lines. These sensors collect real-time data on various parameters, such as conductor temperature and current, enabling utilities to increase transmission capacity by an average of 40%. This capability helps defer costly infrastructure upgrades and improves the integration of renewable energy sources. Heimdall Power's solutions are deployed by over 40 utilities across 17 countries, including notable projects in the U.S. and Europe, as of July 2024.

The company plans to utilize the July 2024 funding to support its expansion into international markets and further technology development.

## Funding rounds

- Series B, Jul 16, 2024, $25M — Sarsia, Investinor, Eviny Ventures, Orlen VC, EnvisionTech

## Investors

- Sarsia (https://capitalatlas.ai/funds/sarsia) — Series B
- Investinor (https://capitalatlas.ai/funds/investinor) — Series B
- Eviny Ventures (https://capitalatlas.ai/funds/eviny-ventures) — Series B
- Orlen VC (https://capitalatlas.ai/funds/orlen-vc) — Series B
- EnvisionTech (https://capitalatlas.ai/funds/envisiontech) — Series B