Nearthlab Revenue and Competitors

Nearthlab is a technology-driven startup centered around engineers in aerospace engineering, software/hardware development, AI/machine learning, and UAV systems. Nearthlab is focusing on using drones to automate inspection of industrial facilities, such as wind turbine, currently conducted by people using cranes or rope access. Such manual way of inspection is very dangerous, time-consuming and expensive, negatively impacting the wind farm's profitability. Nearthlab is addressing this problem by developing an “all-in-one” automated inspection solution. It consists of two components powered by proprietary AI technologies: 1) autonomous flight algorithm that can fly drones safely around the blades and collect data, and 2) data analytics algorithm that can diagnose the type and severity of damages and make suggestions for maintenance. Nearthlab's solution can reduce inspection time from a few hours to just 15 minutes, which means more wind turbines can be inspected in less amount of time. This allows wind farms to generate more electricity, with virtually no risk to people on site. Nearthlab is currently servicing numerous wind farms in Korea, with ongoing negotiations with various partners in Korea and overseas, including Japan and the United States, for inspection of wind farms and other facilities.