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25.11.2020
SmartHelio sensor

EPFL spin-off SmartHelio has obtained a Tech seed loan of CHF 100’000 from the Foundation for Technological Innovation (FIT) to improve at the efficiency of solar panels using AI-driven data analytics.

Although solar panel installations have multiplied in the last decade to fight climate change, their maintenance is still done manually. Moreover, reactive maintenance is often preferred over preventing faults and dysfunctions, due to the difficulty of detecting anomalies. This results in high losses of time and money.

The Vaud based startup SmartHelio seeks to solve these industry-wide challenges using its flagship product, the HelioHealth sensor, an AI-based advanced data analytics solution for solar panel diagnostics and a prescription, designed to facilitate proactive maintenance of solar assets.

HelioHealth sensor is deployed on the solar panel to gather data at a granular level – even from any third-party monitoring system – and provide processed data in the form of patterns and analyses. The data output enables operational teams to improve performance and maximize the return on investment of solar assets.

The Vaud based startup cleantech start-up also collaborates on research and development aspects with the University of Applied Sciences and Arts of Lucerne and the University of Applied Sciences in Italian-speaking Switzerland (SUSPI). Its promising project has attracted support, both in Switzerland and abroad from organisations such as Platinn, Genilem, Cambridge Cleantech, Venture Kick, REPIC, Banque Alternative Suisse, and Vaud’s Office for Economic Affairs and Innovation (SPEI). Furthermore, the start-up managed to raise over one million dollars in convertible loans and non-dilutive grants.

The addition of CHF 100’000 Tech seed loan will enable SmartHelio to progress with its technology development, scale up in larger markets and grow the team, as revealed by Govinda Upadhyay, SmartHelio’s CEO. Having established its presence in Europe and Asia, SmartHelio plans to expand into the US in 2021.

(Press release/RAN)

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