/ Corporate / Sulzer Schmid closes Series B round to drive its transition from tech start-up to major enterprise

Sulzer Schmid closes Series B round to drive its transition from tech start-up to major enterprise

Parul Dubey on June 22, 2021 - in Corporate, News

Sulzer Schmid, a Swiss company pioneering UAV technology for wind rotor blade inspections, announced today that it has completed a series B round. The company achieved significant growth in 2020, with the addition of six new countries to its portfolio. It carried out its largest ever inspection campaign covering 1,500 wind turbines for Vestas NCE. Further contracts have been signed this year to serve customers in more than 25 countries on four continents. This important funding increase will support the company through its next stage of growth – from technology start-up to major international enterprise.

The Series B round, led by Swisscanto Invest by Zürcher Kantonalbank, was oversubscribed. Investment partners includeInfratech Growth partners (Australia) as well as existing shareholders, a Swiss private investment Holding, advised by Schwartzkopff Partners AG and other prominent high net worth individuals. The capital increase was completed on June 7th and published in the Commercial Register of Canton Zürich on June 14th, 2021.

Swisscanto Invest by Zürcher Kantonalbank has a long experience of sustainable investments and is committed to reducing CO2 in all its active investment funds. “Sulzer Schmid’s business makes an important contribution to the reduction of CO2. Its cutting-edge technology is transforming the inspection of wind turbines. By automating the blade inspection process and reducing inspection downtime, they enable increased energy production. Their digitalization and smart robotics contribute to making wind as an energy source more cost efficient.”, said Nils Granath from the bank’s Private Equity Team.

The capital raised will be used to expand the team, with a focus on sales and continued investment in our platform technology to provide software as a service. It will also open opportunities to target offshore wind markets and as well as additional segments.  “We’re really excited that our new and existing investors support us in the next stage of our growth. We share a common vision to deeply transform the turbine inspection market in the wind industry. Their commitment will enable us to finance the next stage of our company’s development.” Tom Sulzer, Sulzer Schmid Co-founder and CEO, stated.

About Sulzer & Schmid Laboratories AG

Founded in 2016 by Tom Sulzer and Christof Schmid, Zurich-based Sulzer & Schmid is at the forefront of innovation in the energy service sector. Recognizing the potential for UAV technology to redefine industrial grade inspections, the company has developed an end-to-end technology platform that produces high-quality inspection results with ease – precisely, repeatably, efficiently. To date, more than 10’000 wind turbines in more than 25 countries worldwide have been inspected. www.sulzerschmid.com .

About Swisscanto Invest by Zürcher Kantonalbank

Proven specialists develop high-quality investment and pension solutions for private investors, companies and institutions under the Swisscanto Invest by Zürcher Kantonalbank brand. With its Swisscanto Invest by Zürcher Kantonalbank brand, the Zürcher Kantonalbank Group is one of the largest fund providers in Switzerland. It is known for its vanguard role in sustainable investments and its funds regularly achieve national and international recognition.

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