Denkmar - Danish OKTO GRID has raised €3M (3.229.950,00 $) from investors, to help the world’s energy sector

By 2030, a significantly higher need for electricity worldwide is expected. Energy sources are transitioning to renewables and electric vehicles are becoming the norm. The electrification of our society introduces a much-needed upgrade to an aging electrical grid unable to sustain a high-quality supply. Transformers are at the center of this energy transition.

OKTO GRID has announced that they have developed solution to help the energy industry digitize assets in a simple way without taking important assets out of service. This enables energy distributors and even energy generators to measure condition changes, anomalies and track asset performance in more detail than any solution in the market before.

According to the company they have successfully raised a €3M ( 3.229.950,00 $) seed round from investors like Elewit, and Rockstart to develop its product further and initialize the company’s plans for further internationalization.

"The competitor situation today consists primarily of larger companies that manufacture transformers and energy generators and have the equipment to collect certain types of data. They are, however, to a certain extent limited to their own products. Smaller companies offer solutions that are limited to certain transformer types and use technologies that require downtime and significant costs", says Golam Sadeghnia, CEO of OKTO GRID.

Source: OKTO GRID