Norway: Heimdall Power raises $25m in new funding round

Power grid optimization specialist Heimdall Power has raised $25 million in a Series B funding round to scale up production of its “Magic Ball” sensors which it claims can help grid operators access up to 40 percent of additional transmission capacity in existing power lines. 

These neuron sensors - also known as Magic Balls - are sphere-shaped devices that are installed by autonomous drones on live, high-voltage power lines. 

“We have reached many key milestones in Heimdall Power during the last year, but this is the biggest yet and the timing is perfect,” said Jørgen Festervoll, CEO of Heimdall Power. “The US government recently announced a goal to upgrade 100,000 miles of transmission lines in the next few years, and powered by this Series B round, we’ll do our fair share to fulfill that vision.” 

Marek Garniewski, president of the management board at Orlen VC said:  “The University of Dallas greatly appreciates the council’s fair consideration and ultimate support of our recent zoning application,” said University of Dallas president Jonathan J. Stanford. “The University is proud of our association with KDC with its extensive experience in the City of Irving, and the company’s national portfolio of data centers. It is heartening to witness the mutual trust amongst the University, KDC, and the City.”