Icelandic startup Laki Power has secured €6 million in a Series A funding round. The investment was primarily led by the NATO Innovation Fund, with additional participation from ReykVC. The company, founded in 2015 by Oskar Valtysson and Osvaldur Knudsen in Reykjavik, plans to use the capital to scale its operations and expand its team.
The company developed a patented technology called PowerGRAB, which draws up to 300 watts of electricity directly from high-voltage transmission lines. This capability allows for the continuous operation of cameras, weather sensors, and satellite links in remote locations without relying on batteries. The system also supports drone charging along power corridors.
Laki Power currently employs eight people across Iceland and London. The company is actively hiring for roles in hardware, software, sales, and marketing to support its international growth. Its technology is already being utilized by customers in Australia, North America, South America, and Europe, moving beyond its initial test market with the Icelandic operator Landsnet.
The NATO Innovation Fund highlighted the dual-use potential of the technology, noting its ability to increase grid resilience. This focus follows significant power infrastructure challenges, such as the April 2025 blackout on the Iberian Peninsula, which impacted over 50 million people and caused approximately $1.8 billion in economic losses.
The global market for power grid monitoring was valued at $5.8 billion in 2025 and is projected to reach $12.4 billion by 2034. Despite this growth, the NATO Innovation Fund stated it has no plans for the company to go public within the next three years, focusing instead on long-term product development and large-scale deployment.
