Buzz Solutions, a Palo Alto, CA-based AI company focused on making energy infrastructure stable, smart, and resilient, today announced it has raised a $3.3 million funding round led by GoPoint Ventures, with participation from MaC Venture Capital.
The funds will be used to continue building its technology that can accurately and efficiently inspect transmission, distribution, and substation infrastructure, helping to prevent power outages, wildfires, and other dangerous situations.
"Our technology has never been more important not only to help save utility teams a tremendous amount of time and money, but to help prevent dangerous situations, like wildfires and power outages, to keep people and property safe," said Kaitlyn Albertoli, co-founder and CEO, Buzz Solutions. "The new infrastructure bill passed by Congress will be a tremendous push in the right direction for utilities to modernize their grids, onboard renewables at accelerated rates and continue to electrify in a more stable way. It's a major opportunity to innovate and transform the industry as we move to a decarbonized future."
The company is now expanding its offerings to include substations and oil and gas infrastructure. In these new markets, Buzz Solutions will provide analytics for pipeline and renewable asset inspections including wind, solar, and hydroelectric, delivering component and anomaly detections, as well as methane leakage detections.
Company: Buzz Solutions Inc.
Raised: $3.3M
Round: Unknown
Funding Month: December 2022
Lead Investors: GoPoint Ventures
Additional Investors: MaC Venture Capital
Company Website: https://www.buzzsolutions.co/
Software Category: Asset Fault Detection and Predictive Analytics
About the Company: Buzz Solutions is an AI company that provides asset fault detection and predictive analytics for powerline inspections, providing critical savings in preventing downed lines, power outages, and sparked wildfires due to failed grid infrastructure. The company enables field teams to perform the prioritized maintenance in a timely manner, reducing the likelihood of wildfires, forced shutdowns, and power outages resulting from failed grid infrastructure. Buzz Solutions has worked with several large utilities across North America, including the New York Power Authority and Newfoundland Power. The company has achieved traction with major utilities, including its newest utility customer, the New York Power Authority (NYPA), the largest state public power organization in the U.S. It is also working with several notable inspection service providers globally and has partnered with industry leader POWER Engineers.
Source: https://www.accesswire.com/729548/Buzz-Solutions-Announces-33-Million-Round-of-Funding-to-Continue-Safeguarding-the-Worlds-Energy-Infrastructure