Vertikal AI secures capital from Vækstfonden
Vejle, Jan 13, 2020.
Vækstfonden becomes a financial partner for Vertikal AI, by providing a Start loan. The loan will be used to fund the startup's further product development and ensure the continued growth of the company.
Vertikal AI’s mission is to realize the potential of AI to maximize wind turbine performance and thus accelerate the transition towards a society powered by renewable energy. Through an artificial intelligence software product, the company will improve the efficiency of wind turbine operations & maintenance all over the world.
With this ambitious goal, Vertikal AI was granted a Start Loan from Vækstfonden. Start loans are loans aimed at young entrepreneurial enterprises still in the start-up phase, but commercially ready to launch a fully developed product, and with their first completed sales to customers under their belt.
“We have followed Vertikal AI for more than a year, and have seen them achieve impressive results so far”, says Claus Albjerg, Senior Relationship Manager at Vækstfonden “Their technology has a large potential and they have built a strong team and attracted other public and private investors”.
Vækstfonden is the Danish state’s investment fund. The organization is an independent fund and through co-financing, contributes to the growth of economically SMEs. The loan from Vækstfonden will be used to fund Vertikal AI’s further product development and ensure the continued growth of the company. Vertikal AI sees Vækstfonden as a long-term partner and aims to make use of other Vækstfonden products to co-finance future innovation -and growth initiatives.
“With Vækstfonden on board, we are even more attractive to future investors”, says Allan Larsen, CEO & Co-Founder of Vertikal AI. “Along with our business angel and the Innovation Fund Denmark, this investment also serves as a strong validation of our technology novelty and business potential”.
Vertikal AI was established in July 2018 and is located in Vejle, Denmark.
About Vertikal AI:
Vertikal AI is an industrial artificial intelligence company that specializes in AI for predictive maintenance in Wind Power. We help our clients scale their O&M business through innovative software technologies.
Vertikal AI: https://www.vertikal-ai.com/
Contact Vertikal AI: email@example.com | +45 52 887 999
Vækstfonden is the Danish state's investment fund. The fund strives to improve access to risk capital to enable Danish businesses to innovate, and to generate growth and new jobs. In close collaboration with banks and domestic and international private investors, Vækstfonden finances companies from all sectors nation-wide. The fund can accompany companies for the entire journey – from the company’s infancy through growth phases to expansion abroad and even to an initial public offering.