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

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 include Infratech 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 7^th and published in the Commercial Register of Canton Zürich on June 14^th, 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.