Thread

Thread (formerly known as Airtonomy) is a software-as-a-service (SaaS) provider that offers an enterprise-scale autonomous data collection platform called UNITI. This platform enables utility companies to automate inspections of critical infrastructure assets such as wind turbines, oil and gas facilities, and power transmission and distribution lines. UNITI utilizes unmanned aerial systems (UAS) and robotics to capture precise inspection data, which is then processed and analyzed to provide insights into asset performance and maintenance requirements.

Thread's technology represents a significant advancement in asset performance management (APM) for the energy and utilities industry. By automating the inspection process and creating a digital asset catalog, UNITI allows customers to consistently compare inspection data, analyze trends, and assess overall asset health across multiple disciplines in a centralized platform. This real-time data-driven approach empowers utility operators to make more informed decisions regarding maintenance and operations, ultimately reducing costs and mitigating risks associated with aging infrastructure.

In October 2023, Thread secured USD 15 million in Series A funding led by Badlands Capital, with participation from Minnkota Power Cooperative and other notable investors. This funding will enable the company to enhance its asset-agnostic autonomous inspection capabilities and further develop the UNITI platform.

Key customers and partnerships

Thread's key customers include Xcel Energy, a major regional investor-owned utility, and Constellation Energy. The company has also established partnerships with asset protection companies such as MISTRAS Group.

In March 2023, Thread formally expanded its operations into Canada to better serve customers in the growing renewable energy industry across North America. The company plans to hire up to 40 additional staff members, including senior programmers and engineers, within the next 12 months to support its growth goals in the Canadian market.

Furthermore, Thread has secured a USD 1.2 million contract with the US Air Force to develop a drone system that enhances security at the Grand Forks Air Force Base in North Dakota.