SmartHelio remotely diagnoses existing problems, predicts faults and prescribes solutions in real time.
SmartHelio is a solar energy company that has developed a platform to cover the end-to-end diagnostics for solar plants and forecast their energy production. The startup has been successful in developing a complete analytics platform that allows clients to detect problems and, through this, improve energy production at a granular level, allowing operators to maximize the efficiency of their plant. Additionally, the company has developed an Internet of Things (IoT) device that enables older photovoltaic power plants, which are not yet connected and therefore high in maintenance costs, to track the health of their solar panels remotely to reduce operation costs.
Their approach differs from most competitors, as they do not only focus on diagnostics and fault detection but have also managed to provide their users with additional, data-driven insights to improve electricity production in the long term.
Driven by the need to reduce carbon emissions and decrease energy dependency, we anticipate the solar power market to grow significantly in the coming years. Many government initiatives already considerably support the industry, which is reflected in the International Energy Agency’s prediction of a 24% yearly growth between 2020 and 2030. This would correspond to 630 GW of new capacity additions.
We recognize a strong founding team in SmartHelio, with a solid technological background as well as significant industry and previous founding experience, through which they demonstrate a good network in the energy industry.
SmartHelio has already secured its first customers and is undergoing several pilots in collaboration with various large-scale utility companies in Switzerland and India.
Several institutions have already recognized the startup for the quality of its technology, such as the Solar Impulse Foundation and, most recently, Y-Combinator. And that is why we invested in SmartHelio.
