SmartHelio raises USD 5 million to extend the lifespan of solar panels
16.12.2022
SmartHelio's proprietary IoT sensor and intelligent software improve the performance and lifespan of solar panels. With the funds, SmartHelio plans to scale its product. The startup is a Venture Kick winner and Venture Leaders alum.
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SmartHelio, which was part of Y Combinator's W22 batch, saw participation from the incubator as well as a flurry of Swiss and American investors in the recent financing round, including Collab Fund, Serpentine VC, ACE & Company, Pegasus Tech Venture, Gaingel VC, Soma Capital, and several angel investors.
SmartHelio specialized in preventing damage to solar panels due to overexposure and other degrading effects. The startup uses AI to monitor current, voltage, weather parameters, etc. in solar power plants and to offer suggestions for fixes when a solar panel starts to underperform. This reduces loss of performance and waste of materials, keeping solar panels functional for longer.
"Every summer, my parents would bring my brother and me to our ancestral village in India, which had no electricity. The lack of good governance made it take a long time for the village to get electricity. This is what sparked my interest in decentralized energy solutions that don't require external intervention," Govinda Upadhyay, CEO of SmartHelio told TechCrunch.
"I am always thinking about how we can accelerate the adoption of clean energy. In interacting with solar companies in India, Europe, and Africa, I realized that many of these companies were struggling with the performance of their solar plants, often due to late fault detection. This inspired me to start SmartHelio," he added.
Upadhyay met his co-founder Neeraj Dasila, who was working in the Indian government's energy department at the time. His journey coincides with Upadhyay's, as he grew up in a remote village in the Himalayas that had little infrastructure.
The company is entering a rapidly developing industry and has remarkably few direct competitors; the push from software/IA companies seems mainly focused on where to install solar power or make solar power more affordable.
SmartHelio was awarded CHF 150,000 by Venture Kick in 2020. The startup's co-founder and CEO, Govinda Upadhyay, went to Silicon Valley in 2021 when the company was chosen for the Venture Leaders Technology program.
Co-founder and CEO Govinda Upadhyay showcasing SmartHelio's tech ahead of the Venture Leaders Technology roadshow in 2021
SmartHelio specialized in preventing damage to solar panels due to overexposure and other degrading effects. The startup uses AI to monitor current, voltage, weather parameters, etc. in solar power plants and to offer suggestions for fixes when a solar panel starts to underperform. This reduces loss of performance and waste of materials, keeping solar panels functional for longer.
"Every summer, my parents would bring my brother and me to our ancestral village in India, which had no electricity. The lack of good governance made it take a long time for the village to get electricity. This is what sparked my interest in decentralized energy solutions that don't require external intervention," Govinda Upadhyay, CEO of SmartHelio told TechCrunch.
"I am always thinking about how we can accelerate the adoption of clean energy. In interacting with solar companies in India, Europe, and Africa, I realized that many of these companies were struggling with the performance of their solar plants, often due to late fault detection. This inspired me to start SmartHelio," he added.
Upadhyay met his co-founder Neeraj Dasila, who was working in the Indian government's energy department at the time. His journey coincides with Upadhyay's, as he grew up in a remote village in the Himalayas that had little infrastructure.
The company is entering a rapidly developing industry and has remarkably few direct competitors; the push from software/IA companies seems mainly focused on where to install solar power or make solar power more affordable.
SmartHelio was awarded CHF 150,000 by Venture Kick in 2020. The startup's co-founder and CEO, Govinda Upadhyay, went to Silicon Valley in 2021 when the company was chosen for the Venture Leaders Technology program.
Co-founder and CEO Govinda Upadhyay showcasing SmartHelio's tech ahead of the Venture Leaders Technology roadshow in 2021