Icelandic grid technology company Laki Power has raised 6 million euros in a Series A funding round led by the NATO Innovation Fund. The investment marks the fund's first direct backing of an Icelandic startup and includes participation from ReykVC. The capital will help the company scale hardware and software designed to protect power infrastructure from disruptions.
Patented Technology for Remote Grid Monitoring
Laki Power's patented PowerGRAB system draws up to 300 watts directly from live high-voltage transmission lines. The company states this is about 100 times more power than standard inductive systems can provide. The energy runs cameras, weather sensors, satellite communication links, and drone charging stations in remote areas without regular battery replacement.
Operational Footprint and Team
Laki Power currently has eight employees, most of whom are based in Iceland and one in London. The company works with utility clients in North America, South America, Europe, and Australia, including Iceland's national grid operator Landsnet. This operational footprint has grown from its initial test market as it prepares to scale internationally.
Dual-Use Value and Security Implications
The NATO Innovation Fund was drawn to Laki Power's preparation and the dual-use potential of its technology. Dr. Sander Verbrugge, a partner at the fund, said the platform can charge drones, support advanced sensor systems, and host communication relays that strengthen member resilience. These capabilities align with NATO's interest in protecting critical infrastructure against increasingly complex threats.
Security Context
Security concerns around power grids have intensified following major outage incidents. The April 2025 blackout on the Iberian Peninsula affected more than 50 million people for up to 18 hours and caused economic losses of about 1.8 billion dollars for Spain. Verbrugge noted that simple and inexpensive monitoring devices can be of great assistance in such critical events.
Competitive Market Position
Laki Power operates in a competitive field that includes LineVision and Gridware. LineVision has raised 47.6 million dollars for optical line sensors, while Gridware installs multi-sensor hardware on utility poles. Co-founder Ósvaldur Knudsen said, "We are really second to none; there is no competitor that can do it the way we do."
Market Opportunity and Expansion
The global power grid monitoring sector was valued at 5.8 billion dollars in 2025 and is projected to reach 12.4 billion dollars by 2034. Laki Power plans to expand its engineering, sales, and marketing teams to serve a larger global customer base. This market growth supports the company's ambition to move from utility testing programs to large-scale deployments.
Patient Capital and Long-Term Development
The NATO Innovation Fund takes a patient approach and has no intention of pushing Laki Power toward a public listing within the next three years. Verbrugge said the fund's mission platform group is already working with Laki Power to define a possible third product line. Knudsen defines success as deploying the company's solutions on a large scale as grid operators continue testing the technology.
Laki Power's six million euro Series A round underscores the growing strategic importance of resilient grid monitoring technology. The funding will support product development and global expansion as utilities and defense-oriented organizations look for new ways to secure critical power infrastructure. With NATO backing and a proven technology, the Icelandic startup is positioned to scale its deployments across multiple markets.
Source: Tech Funding News