About Kitemill
Kitemill is a company based in Vossevangen (Norway) founded in 2008. It operates as a Green Energy-as-a-Service. Kitemill has raised $2.54 million across 7 funding rounds from investors including European Union and EIC Fund. The company has 9 employees as of December 31, 2021. Kitemill has completed 1 acquisition, including Exact Aircraft. Kitemill offers products and services including Airborne Wind Energy System. Kitemill operates in a competitive market with competitors including Enerkite, Skypull, Windlift, Kite Power Solutions and Makani, among others.
- Headquarter Vossevangen, Norway
- Employees 9 as on 31 Dec, 2021
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Kitemill
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Annual Revenue
$482.2 K (USD)-53as on Dec 31, 2022
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Net Profit
$-1.27 M (USD)-30as on Dec 31, 2022
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EBITDA
$-1.44 M (USD)-32as on Dec 31, 2022
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Total Equity Funding
$2.54 M (USD)
in 7 rounds
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Latest Funding Round
$2.72 M (USD), Grant
Jul 22, 2024
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Investors
European Union
& 1 more
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Employee Count
9
as on Dec 31, 2021
- Investments & Acquisitions
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Products & Services of Kitemill
Kitemill offers a comprehensive portfolio of products and services, including Airborne Wind Energy System. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Innovative kite-based system harnesses high-altitude wind energy.
Funding Insights of Kitemill
Kitemill has successfully raised a total of $2.54M across 7 strategic funding rounds. The most recent funding activity was a Grant round of $2.72 million completed in July 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Grant — $2.7M
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First Round
First Round
(06 Jan 2017)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Grant - Kitemill | Valuation |
investors |
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| Jan, 2023 | Amount | Seed - Kitemill | Valuation |
investors |
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| Jan, 2022 | Amount | Grant - Kitemill | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Kitemill
Kitemill has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include European Union and EIC Fund. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Government agency and accelerator focusing on innovative startups and SMEs
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Founded Year | Domain | Location | |
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Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Kitemill
Kitemill has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Exact Aircraft. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Aircraft are designed and traded via an online marketplace.
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Kitemill
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Kitemill Comparisons
Competitors of Kitemill
Kitemill operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Enerkite, Skypull, Windlift, Kite Power Solutions and Makani, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Airborne Wind Energy System
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| domain | founded_year | HQ Location |
Box-type altitude wind power systems are developed.
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| domain | founded_year | HQ Location |
Airborne wind energy systems are developed for electricity harvesting.
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| domain | founded_year | HQ Location |
Manufactures airborne wind turbines for renewable energy solutions.
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| domain | founded_year | HQ Location |
Harnesses high altitude wind energy
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Kitemill
When was Kitemill founded?
Kitemill was founded in 2008 and raised its 1st funding round 9 years after it was founded.
Where is Kitemill located?
Kitemill is headquartered in Vossevangen, Norway. It is registered at Vossevangen, Vestland, Norway.
Is Kitemill a funded company?
Kitemill is a funded company, having raised a total of $2.54M across 7 funding rounds to date. The company's 1st funding round was a Grant of $3.81M, raised on Jan 06, 2017.
How many employees does Kitemill have?
As of Dec 31, 2021, the latest employee count at Kitemill is 9.
What is the annual revenue of Kitemill?
Annual revenue of Kitemill is $482.2K as on Dec 31, 2022.
What does Kitemill do?
Kitemill is focused on pioneering airborne wind energy technology, harnessing wind power at altitudes above 350 meters where winds are stronger and more consistent. The solution, based on a kite tethered to a ground-based generator, is designed to reduce the levelized cost of energy by 50 through minimal material usage and increased energy yield. Operations are conducted with minimal environmental interference, and the technology is aimed at unlocking new wind energy sites. The sector of focus is renewable energy, specifically wind power, with innovative solutions for sustainable energy production.
Who are the top competitors of Kitemill?
Kitemill's top competitors include Windlift, Skypull and eWind Solutions.
What products or services does Kitemill offer?
Kitemill offers Airborne Wind Energy System.
How many acquisitions has Kitemill made?
Kitemill has made 1 acquisition, including Exact Aircraft.
Who are Kitemill's investors?
Kitemill has 2 investors. Key investors include European Union, and EIC Fund.