• SmartHelio

  Participated · Equity · Sep 2020

  SmartHelio provides AI-based software that ingests live current, voltage and weather parameters from solar plants and issues actionable recommendations when arrays start underperforming. The team says it spent two years developing physics-informed, AI algorithms and is launching a software solution designed for easy integration into customers' IT stacks. The company aims to cut solar-farm onboarding time by 90% and to serve industrial-scale customers more quickly. Longer term, SmartHelio envisions an "energy intelligence API" that would embed deeper into the solar stack and serve O&M teams, EPCs, equipment manufacturers, investors and bidding managers. The startup plans to use new funding to accelerate product development, hire software and data talent, and expand its presence in the U.S. alongside existing operations in Europe and Asia. Financially, SmartHelio recently raised $5 million and previously took pre-seed funding from Venture KICK and the Innovation Fund of the Alternative Bank of Switzerland, having also bought back shares from early investors. SmartHelio offers an AI-based cloud platform that analyzes critical factors such as shading, connector faults, and wire rust to diagnose and predict problems in solar plants. Its proprietary IoT sensors can seamlessly connect with existing monitoring platforms to help continuously locate faults in real time. The company says the cloud solution does not require new hardware or software. SmartHelio aims to extend the life and efficiency of solar assets by enabling timely interventions and predicting issues. The startup is led by co-founder and CEO Govinda Upadhyay and is based in Lausanne with about 20 employees. To date SmartHelio has raised CHF 1 million and is participating in the Venture Leaders Technology 2021 roadshow to Silicon Valley to advance global growth and meet investors, clients, and partners. SmartHelio develops the HelioHealth sensor, an AI-based data analytics and prescription solution for diagnosing solar-panel faults and enabling proactive maintenance. The sensor gathers granular data directly from panels and can ingest data from third-party monitoring systems, producing patterns and analyses for operational teams. The product is intended to reduce manual, reactive maintenance and improve performance to maximize return on investment for solar assets. SmartHelio collaborates on R&D with the University of Applied Sciences and Arts of Lucerne and SUSPI. The Vaud-based cleantech start-up has established a presence in Europe and Asia and planned U.S. expansion in 2021. Its financing history includes over $1 million in convertible loans and non-dilutive grants. Founded in 2019, SmartHelio develops AI-based advanced data analytics for solar-panel diagnostics and provides prescriptive recommendations for proactive maintenance. The company has also built a panel-level Smart IoT sensor, HelioHealth, that leverages edge computing to improve diagnostics. SmartHelio aims to become a one-stop solution for solar asset management by making its sensor more intelligent and enhancing its cloud analytics. The startup plans to reduce sensor cost by 80% and achieve 50% faster fault-location through these improvements. SmartHelio currently serves 30 pilot customers across Switzerland, France, India, and the Netherlands and saw nearly a 200% surge in demand during COVID-19. The company intends to use the recent Venture Kick funding to further develop its IoT sensor and AI-based cloud platform and to expand the team. SmartHelio develops a cost-effective, easy-to-install monitoring sensor (HelioHealth) and deep-data analytics to boost solar-plant performance and speed maintenance. The company plans to scale operations in India—where it already works with top 10 solar companies—and expand in Switzerland and across Europe, targeting Germany, France, Italy and Spain. SmartHelio currently runs five pilots in the EU and employs 11 people (2 in Switzerland, 3 in the EU and the remainder in India). Since the COVID outbreak demand for deep data analytics in the solar sector has risen, and SmartHelio grew almost 200% in the last six months. The startup recently raised CHF 250,000 in a mix of equity and a convertible loan and also received an Innosuisse project grant worth CHF 800,000 for 18 months to further develop its sensor and analytics. The Innosuisse project, in collaboration with the Lucerne University of Applied Sciences and Arts, aims to make the sensor more cost-effective, smarter and to speed the solar fault detection algorithm by 50%.

No current team members are available.