Richmond, Virginia, July 08, 2022 (GLOBE NEWSWIRE) — Virginia Venture Partners, the fairness funding program of Virginia Innovation Partnership Corporation (VIPC), at present introduced a further funding in Richmond, Va.-based Linebird, developer of an answer that addresses the security issues of grid upkeep and monitoring with unmanned aerial techniques (UAS). Since VIPC’s preliminary funding in March 2021, Linebird’s accomplishments embrace a product launch, closing the corporate’s first gross sales, and elevating $350k led by VVP, Trolley Ventures, Potential Energy DC and different Richmond space angels.
Power line inspection and upkeep is among the most harmful jobs in the United States, because it typically requires manned crews to make direct contact with high-voltage traces. With using drone know-how, Linebird is reworking the best way energy transmission infrastructure is inspected and maintained whereas lowering danger elements that presently exist for work that’s historically dealt with by a manned crew. Linebird addresses these dangers by providing UAS payload techniques that allow unmanned work in contact with reside traces, significantly lowering value and legal responsibility of operations and upkeep.
“Since Virginia Venture Partner’s first investment, Linebird has more than quadrupled our customer funnel volume,” stated Michael Beiro, Founder and CEO of Linebird. “Our safe and innovative UAS technology ensures that conducting repairs on live power lines can be done with boots safely on the ground rather than up in the air next to high voltage. We are grateful for the ongoing support of VIPC’s Virginia Venture Partners to help foster our continued growth.”
Using an unmanned system permits direct-contact, live-line work with out the high-risk use of helicopters, bucket vans and pole-climbing. The answer Linebird affords will be adjusted to accommodate any industrial drone, and the system can undertake different lineman instruments to do inspection, upkeep and restore. Linebird not too long ago introduced two new merchandise: Ampstik Adaptation Kit, that integrates SensorLink’s Ampstik with the Osprey NPS, and the Navigator Installation Kit that integrates Power Delivery Products’ Navigator with the Osprey NPS. These merchandise present a groundbreaking, patent-pending new technique for using lineman’s instruments on reside traces.
“The Linebird team is passionate about addressing the critical need to transform power transmission, and is making strides in advancing technology that makes these jobs safer and more efficient,” stated Tom Weithman, VIPC Chief Investment Officer and Managing Director of Virginia Venture Partners. “Since VIPC’s first investment in 2021, the company continues to demonstrate impressive growth and innovation between their new products, new sales and capital raise. The Virginia Venture Partners team at VIPC looks forward to being part of Linebird’s continued impact.”
About Linebird
Linebird is working to rework the best way energy transmission infrastructure is inspected and maintained, increasing the capabilities of unmanned techniques to take work that was as soon as pricey and life – threatening and do it shortly, cheaply, and remotely with the facility of automation. We are presently constructing a prototype to exhibit that unmanned techniques can carry lineman instruments in contact with reside transmission traces via a patent-pending course of. For extra data, please go to https://linebird.net/.
About Virginia Venture Partners
Virginia Venture Partners, previously CIT GAP Funds, is the fairness funding program of VIPC that makes seed-stage fairness investments in Virginia-based know-how, clear vitality, and life science corporations with a excessive potential for attaining fast development and producing a big financial return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, Virginia Venture Partners has deployed $32.4 million in capital throughout greater than 250 portfolio corporations, together with 17 corporations in designated Opportunity Zones. Virginia Venture Partners’ funding choices are guided by the Virginia Venture Partners Investment Advisory Board (IAB). This unbiased, third-party panel has drawn from the experience of main regional entrepreneurs, angel, and strategic traders, and enterprise capital companies corresponding to New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For extra data, please go to www.virginiaipc.org/vvp.
About Virginia Innovation Partnership Corporation (VIPC)
Connecting innovators with alternatives. The nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage financial growth driver in the Commonwealth that leads funding, infrastructure, and coverage initiatives to help Virginia’s innovators, entrepreneurs, startups, and market growth methods. VIPC collaborates with native, regional, state, and federal companions to help the growth and diversification of Virginia’s economy.
Programs embrace: Virginia Venture Partners (VVP) | Virginia Founders Fund (VFF) |Commonwealth Commercialization Fund (CCF) | Smart Communities | Unmanned Systems | Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For extra data, please go to www.VirginiaIPC.org. Follow VIPC on Twitter, LinkedIn, and Facebook.
- Linebird’s unmanned merchandise change human contact with reside energy traces to enhance security and cut back prices of conventional grid upkeep and monitoring
- VIPC’s Virginia Venture Partners Investment in Linebird Supports Continued Growth of Solution that Brings Unmanned Systems to High-Voltage Power Lines
