SmartHelio has developed software that predicts PV system faults in real time – avoiding downtime and increasing turnover by up to 10 percent. The company’s solution is already used by leading solar developers in Europe, Asia and the US to make solar installations profitable and sustainable.
SmartHelio has now raised $5 million to scale its product. The company was part of the W22 batch of Y Combinator and the incubator participated in the round, in addition to a larger group of other investors from Switzerland and the U.S., including Collab Fund, Serpentine VC, ACE & Company, Pegasus Tech Ventures, Gaingels VC, Soma Capital and a number of angel investors.
According to an article published by Techcrunch, SmartHelio has been very selective about the investors they work with and chosen those who can provide valuable expertise and connections in the solar industry, as well as those who can help with recruiting the right talent and various aspects of the business.
The new funds will be used mainly for product development. The goal is to reduce the onboarding time of solar farms by 90% and to serve more customers, more quickly.
(Press release / SK)
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