Aikido Technologies is a technology provider for the floating wind industry, developing innovative solutions to drive down the cost and enable the serial production of floating wind systems.
SAN FRANCISCO–Aikido Technologies, a floating wind startup whose technology lowers costs, reduces fabrication timelines and brings serial production to the floating wind sector, today announced the successful close of its over-subscribed $4 million Series Seed investment round. The financing was led by Azolla Ventures with participation from Propeller Ventures, Sabanci Climate Ventures, Cisco Foundation, Anthropocene Ventures, and others. Aikido will use this capital to advance its technology for offshore deployment, build its team, and develop a commercial pipeline. The company is currently supported by Breakthrough Energy Fellows, which is funding Aikido’s first pilot deployment, the Aikido One.
The core of Aikido’s technology is a platform for floating offshore wind turbines that slashes project costs and enables floating offshore wind projects to become economic. Key features of the platform include a) pin joints that enable serialized production of its 13 major steel components; b) a unique design that allows it to fold up during assembly, occupying 2/3 less space in a shipyard or quayside port facility; c) a fit-for-purpose, re-usable assembly structure that enables the quick placement, alignment, final assembly, and transport; and d) an upending procedure that only requires water ballast.
“Bringing strong financial investors to the table represents a huge milestone for Aikido and for the floating wind industry writ large,” stated CEO Sam Kanner. “Floating wind must become commercialized by the end of the decade so that we can meet decarbonization targets set by pioneering offshore wind countries, including the U.S., U.K., and others in 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.”