San Francisco-based Aikido Technologies has successfully raised $4 million in seed funding to propel its platform technology for offshore deployment and initiate pilot demonstrator projects. The funding round was led by Azolla Ventures, with contributions from Propeller Ventures, Sabanci Cisco Foundation, Anthropocene Ventures, and Climate Ventures.
Sam Kanner, CEO of Aikido Technologies, expressed enthusiasm about the funding, stating, “Bringing strong financial investors to the table represents a huge milestone for Aikido and for the floating wind industry writ large.”
See also: US Floater Start-up Aikido Technologies Partners with Morrison for Aikido One Floating Wind Project
The company plans to allocate the capital towards advancing its solutions for floating wind systems, expanding its team, and developing a commercial pipeline. Kanner emphasized the urgency of commercializing floating wind technology to meet global decarbonization targets by the end of the decade, particularly in pioneering offshore wind markets like the US, UK, Europe, and Asia.
“We believe that our technology suite represents a step change in reducing costs, simplifying logistics and increasing throughput of floating wind systems,” Kanner added.
See also: BayWa and Elicio Secure France's First Commercial Floating Wind Farm Tender
Aikido Technologies is currently collaborating with fabrication partner Morrison Energy to build its inaugural Aikido One platform in Harvey, Louisiana. The platform, tailored for floating turbines, is designed to significantly reduce project costs and enhance operational efficiency.
