Wirescan Secures Strategic Investment from Adara Ventures and Strengthens Leadership Team
Wirescan Management Team (Left to Right): Artem Lytkin (CCO), Morten Husbey (CEO), Jo Inge Buskenes (CTO), and Anders Berger (CFO).
Oslo, Norway – 2 April 2025 – Wirescan, a global leader in real-time cable integrity monitoring solutions, is pleased to announce it has received significant new investment from Adara Ventures, one of Europe’s leading venture capital firms specialising in deep tech. This marks the second investment of the Adara Ventures Energy Fund, the firm's first thematic fund.
Developed in Norway at the Institute for Energy Technology (IFE) by Paolo Franco Fantoni, Wirescan's patented LIRA (Line Impedance Resonance Analysis) Technology was designed to address the pressing need for a non-destructive way to test and assess the condition of cables in nuclear power plants. Today, Wirescan's LIRA technology has become a trusted and globally recognised solution for evaluating and monitoring cable conditions, with a strong track record of success across industries and regions – particularly in monitoring subsea cables used in offshore wind farms.
With more than 20 years of experience scaling deep-tech companies, Adara Ventures is uniquely positioned to support Wirescan in its mission to expand the market presence of its proprietary LIRA Technology for evaluating and monitoring cable conditions.
Strengthening the Wirescan Leadership Team
Alongside this new investment, Wirescan is pleased to welcome two new exceptional leaders to its management team. Joining forces with CEO Morten Husbey, Wirescan has appointed Jo Inge Buskenes as the company’s new Chief Technology Officer (CTO), and Artem Lytkin as the new Chief Commercial Officer (CCO).
With a strong academic background in signal processing and related industrial applications, Buskenes brings extensive expertise in technology and research having prior experience at the University of Oslo and the Norwegian Defense Research Establishment. He is an expert in signal processing and has published a number of important works in this area. As CTO, he will help drive Wirescan's technological development, enhancing current offerings and developing new solutions that meet the demands of this rapidly evolving market.
A seasoned business leader with a strong entrepreneurial and commercial mindset, Lytkin brings over 20 years of experience in the energy industry, business development, and P&L management. He has a proven track record of scaling businesses internationally, driving growth, and unlocking new market opportunities. Prior to joining Wirescan, he held executive roles at PGS and Aker Solutions, leading global expansion and commercial strategy initiatives. Before that, he held leadership roles at SLB, where he focused on commercializing cutting-edge technologies and driving business growth across international markets.
The Future of Wirescan
With the new investment from Adara Ventures and the added expertise of its new leadership team, Wirescan is now poised to solidify its leading position in the cable monitoring industry.
“At Wirescan, we recognise that the future of energy depends on smarter, more efficient infrastructure,” said Morten Huseby, CEO of Wirescan. “As we enter this next phase, we are more confident than ever in our ability to help more organisations lower costs, optimise grid performance, and drive the transition toward a more sustainable energy future.”
“Subsea energy infrastructures are a critical component of Energy systems, requiring a reliable and precise monitoring system. Wirescan's patented technology is widely recognised as state-of-the-art in that field,” said Alberto Echeverri, Partner at Adara Ventures. “We are excited to collaborate with the team as they enter this next phase of growth.”
About Wirescan
Wirescan is a leader in real-time cable integrity monitoring solutions. The company’s patented LIRA (Line Impedance Resonance Analysis) Technology is trusted by organisations across industries, providing actionable insights to reduce downtime and optimise operations. Headquartered in Oslo, Norway, Wirescan is committed to ensuring the safety and reliability of cable infrastructure worldwide. For more information, visit https://www.wirescan.no.
About Adara Ventures
Adara Ventures is a leading European venture capital firm specialising in deep tech investments. Founded in 2005, the firm manages over €350 million in assets and has a track record of helping high-potential innovators achieve global success. Adara’s portfolio focuses on innovative companies in areas such as cybersecurity, data applications and infrastructure, hardware components, digital health, space tech, and energy transition technologies. For more information, visit www.adara.vc.