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- Aerones
Aerones Funding, Investors & Competitors
Aerones has raised $109M across 7 funding rounds, most recently a $62M Series B in June 2025.
Last Aerones funding round
$62M
Series B · Jun 2025
Cumulative funding Aerones raised
$109M
across 7 funding rounds
Key investors in Aerones
Change Ventures
Y Combinator
Lightrock
Metaplanet
Future Positive Capital
Mantas Mikuckas
Pace Ventures
Blume Equity
About Aerones
Riga-headquartered Aerones deploys tethered drones and robotic crawlers for wind turbine blade maintenance. Founded in 2015, the company services Siemens Gamesa and Vestas rotors with automated cleaning, coating, and repair at heights up to 150 meters. Aerones operates bases in Latvia, the United States, and Denmark, performing inspections via 4K cameras and ultrasound for leading edge erosion. Its WindROV drone climbs at 0.5 meters per second, reducing downtime by 70 percent compared to rope access.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Aerones Funding History
Aerones has raised a total of $109M across 7 funding rounds.
Aerones' first fundraising round was a $400K seed round in January 2015. The most recent completed round was a $62M Series B in June 2025.
Aerones funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2025 | Series B | Activate Capital Partners (lead); S2G Investments (lead); Extantia Capital; Blume Equity; Change Ventures; Carbon Equity; Playground Global; Fifth Wall; Lightrock; Energy Impact Partners; Metaplanet; Overlap Holdings | $62M | Aerones is a Latvian company founded in 2018 that provides robotic inspection, maintenance, and AI-driven solutions for wind turbines, aiming to automate high-risk tasks, reduce downtime, cut costs, and support the wind energy industry's growth amid labor shortages. Its robots perform blade maintenance and repairs faster than humans, leveraging AI software, and the company has collaborated with major players like GE, Vestas, Siemens Gamesa, and Enel, producing nearly 400,000 MWh of clean electricity and preventing 165,000 tonnes of carbon emissions since 2020. The $62 million oversubscribed financing round, co-led by new investors Activate Capital Partners and S2G Investments, included participation from Carbon Equity, Overlap Holdings, and existing investors Lightrock, Blume Equity, Metaplanet, Change Ventures, and Extantia Capital. This follows a $30 million round in 2023 and a €4 million EU Innovation Fund grant in 2024, bringing total funding to around $174.5M across 11 rounds. Funds will expand global operations to over 30 countries, scale robot manufacturing, accelerate R&D in AI automation, advanced robotics, predictive maintenance tools, and customer-facing software. The year prior to the round was record-breaking, with revenue nearly tripled and operations significantly expanded, positioning Aerones as the global leader in robotic wind turbine services amid rising energy transition demands. |
| Dec 2022 | Series A | Haniel (lead); Lightrock (lead); Blume Equity; Pace Ventures; Change Ventures; Future Positive Capital; Mantas Mikuckas; Metaplanet | $32M | Aerones is a Latvia-based company, legally a US entity after graduating from Y Combinator in 2018, that develops and manufactures smart robots for wind turbine maintenance and inspection, providing robot-enabled services to over 100 customers in 20 countries, including Vestas, GE, Siemens Gamesa, NextEra, and Enel. The company serves customers representing 50 percent of the world’s wind power capacity and operates across North America, Europe, and South America. With around 200 employees at the time, Aerones targets the $30 billion wind turbine maintenance market, projected to reach $50 billion by 2028, by using robotics to improve efficiency and reduce costs. In late December 2022, Aerones raised $30 million in a Series A round co-led by Lightrock and Haniel, with participation from new investor Blume Equity and existing investors Change Ventures, Metaplanet, Mantas Mikuckas (co-founder of Vinted), Pace Ventures, and Future Positive Capital. The funding was aimed at scaling robot-enabled services to meet surging demand. Prior investments included a $100K angel SAFE in November 2021 and €9 million raised in April 2022, bringing total funding to around €39 million before this round. Later developments include a $21.8M Series A - III in February 2024 with similar investors, a €4 million EU Innovation Fund grant in 2024, and a $62M oversubscribed round in June 2025 led by Activate Capital and S2G, with participation from existing investors like Lightrock and Blume Equity. The 2025 round followed a record year with nearly tripled revenue, US hub opening in Dallas, and expanded services for clients like GE Vernova and Vestas. |
| Apr 2022 | Seed | Change Ventures (lead); Future Positive Capital (lead); Capitalia; Y Combinator; Jaan Tallinn; Pace Ventures; James Berdigans; Ecosummit; Mantas Mikuckas; ARVO VENTURE CAPITAL | $9M | Aerones is a Latvian robotics company providing automated inspection, maintenance, and AI-driven solutions for wind turbines. The company's proprietary robots can inspect and maintain turbines up to six times faster and 40% more cost efficiently than human workers, while eliminating safety risks. In April 2022, Aerones announced a $9 million seed funding round led by Future Positive Capital and Change Ventures, with participation from investors including Skype founder Jaan Tallinn (through Metaplanet), Vinted co-founder Mantas Mikuckas, Printify CEO James Berdigans, Capitalia, Pace Ventures, and EcoSummit. At the time of the seed round, Aerones was already working with nine of the world's ten largest wind companies—including Siemens Gamesa, Enel, GE, and Vestas—and had serviced over 3,000 wind turbines across 17 countries in North and South America and Europe. The company demonstrated significant traction despite pandemic conditions, with business growth exceeding tenfold year-over-year in Q1 2022. |
| Jun 2020 | Seed | Y Combinator; Janis Krums; Change Ventures; Sensum Grupa; Paul Buchheit | $2M | - |
| Aug 2019 | Seed | EIT InnoEnergy (lead) | $3M | - |
| Jan 2018 | Seed | Y Combinator (lead) | $100K | - |
| Jan 2015 | Seed | - | $400K | - |
Who has invested in Aerones?
26 investors have backed Aerones across its funding rounds, including Change Ventures, Y Combinator, Lightrock, Metaplanet, Future Positive Capital and Mantas Mikuckas.
Lead investors include Activate Capital Partners, S2G Investments, Haniel, Lightrock, Change Ventures and 3 other investors.
Aerones Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2020 | ||
| 3 | Lead | Jan 2018 | ||
| 2 | Participant | Dec 2022 | ||
| 2 | Participant | Apr 2022 | ||
| 2 | Lead | Apr 2022 | ||
| 2 | Lead | Dec 2022 | ||
| 2 | Participant | Apr 2022 | ||
| 2 | Participant | Dec 2022 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Lead | Aug 2019 | ||
| 1 | Participant | Jun 2025 | ||
| 1 | Lead | Dec 2022 | ||
| 1 | Participant | Apr 2022 | ||
This data is available for Pro users. Sign up to see all 26 Aerones investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAerones Competitors
Aerones competitors include listed companies like UBtech Robotics and Infleqtion, and private ones like Figure, Skild AI, Shield AI and Saronic.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $298M | ($108M) | $5.1B | 9.5x | ||
| Private | - | - | $39B | - | ||
| Private | $30M | - | $14B | - | ||
| Private | $540M | - | $13B | 23.5x | ||
| Private | $200M | - | $9.3B | 46.3x | ||
| Publicly listed | $29M | ($52M) | $3.1B | 64.5x |
Aerones Public Comps
Aerones is still privately-owned, but its public comps include Tesla, GE Vernova, Siemens Energy, Stryker, Bloom Energy, SLB, Baker Hughes, Sandvik, Doosan Enerbility and Vestas.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $38B | $3.2B | 6.2x | 5.4x | 73.5x | 43.5x | |||
| $45B | $4.5B | 2.7x | 2.4x | 27.3x | 16.1x | |||
| $25B | $6.3B | 4.7x | 4.5x | 18.8x | 15.6x | |||
| $2B | ($14M) | 40.9x | 23.7x | (5906.9x) | 112.5x | |||
| $36B | $7B | 2.4x | 2.4x | 12.5x | 10.6x | |||
| $28B | $4.3B | 2.0x | 2.0x | 13.3x | 11.3x | |||
| $12B | $2.9B | 4.2x | 3.6x | 18.2x | 14.3x | |||
This data is available for Pro users. Sign up to see all Aerones competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Aerones
| When was Aerones founded? | Aerones was founded in 2015. |
| Where is Aerones headquartered? | Aerones is headquartered in San Jose, CA, United States. |
| Is Aerones publicly listed? | No, Aerones is a private, VC-backed company. |
| How much funding has Aerones raised? | Aerones has raised $109M across 7 funding rounds. |
| What was Aerones' last funding round? | Aerones' last funding round was a $62M Series B in June 2025, led by Activate Capital Partners and S2G Investments. |
| Who are Aerones' investors? | Aerones' investors include Change Ventures, Y Combinator, Blume Equity, Pace Ventures, Future Positive Capital, Lightrock, Mantas Mikuckas, Metaplanet, Capitalia, EIT InnoEnergy and 16 others. |
| Which companies are comparable to Aerones? | Companies comparable to Aerones include UBtech Robotics, Figure, Skild AI, Shield AI, Saronic and Infleqtion. |
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