Inion LT builds Internet of Things hardware and a software platform that optimises and monitors electricity generation from solar power plants. Its controller scans and controls solar inverters, connects to inverters from multiple generators, and consolidates data from many plants into a single platform for owners and installers. The solution is customizable for large solar parks and private customers and provides alarms and analytics to detect failures and verify expected generation. The company is preparing additional solutions to maximise on-site solar energy use for homes and industrial enterprises and aims to become a global supplier of energy solutions and new electricity-market business models. The team comprises six people led by CEO Šarūnas Stanaitis, with colleagues Mindaugas Lubis and Robertas Janickas. Inion LT says the investment will be used to hire software developers and sales managers and to start sales in other countries to achieve sufficient cash flow and reach profitability.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2020