TLDR:
- Buzz Solutions raised $5 million in funding led by GoPoint Ventures
- The company utilizes AI to inspect and protect critical energy infrastructure
Buzz Solutions, an AI company focused on inspecting and protecting critical energy infrastructure, recently raised $5 million in a growth funding round led by GoPoint Ventures. The funding round also saw participation from Blackhorn Ventures and MaC Venture Capital. This comes at a time when there is a significant uptick in demand for more efficient and accurate inspections and substation security within the utilities sector.
The global UAV (drone) market is on track to exceed $10 billion in the coming decade, with increasing commercial drone use cases such as T&D asset inspection. Buzz Solutions leverages AI to analyze and harvest actionable insights from the vast amounts of images captured across energy infrastructure, helping utilities improve maintenance prioritization to prevent grid-sparked wildfires and power outages.
With utilities increasingly turning to AI for cost-effective solutions related to safety and environmental sustainability, Buzz Solutions is positioning itself as a leader in the market. The company’s PowerAI platform for visual infrastructure inspections and PowerGUARD AI solution for fixed camera systems at substations are gaining traction, enabling real-time surveillance, equipment monitoring, and alerts for potential threats.
The funding round brings Buzz Solutions’ total raised capital to $10.7 million, which will be used to scale its offerings across utilities in the U.S. and internationally. Founded in 2017 by Stanford graduates Kaitlyn Albertoli and Vikhyat Chaudhry, the company aims to continue its mission of providing utilities with efficient and accurate solutions for safeguarding critical power infrastructure.
