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To prevent solar panels from breaking, SmartHelio raises $5 million

Common belief is that solar panels perform best when exposed to maximum sunlight. True, but only up to a certain limit; after that, heat and other risks become problematic, and solar panels deteriorate rapidly.

SmartHelio hopes to assist in avoiding such an occurrence. The company provides advice on how to improve solar array performance based on real-time data (current, voltage, meteorological conditions) collected using artificial intelligence technology. Recently, the firm has raised $5 million in order to expand its product line.

My parents used to take my brother and me back to the hamlet where our ancestors lived every summer. The community was without power for a long period because bad management delayed the process. CEO of SmartHelio Govinda Upadhyay told TechCrunch that this is what got him interested in autonomous, decentralised energy solutions.

I always ponder methods in which we may accelerate the transition to renewable power. As I spoke with solar firms throughout the world, I learned that many of them were having trouble with the operation of their solar plants, typically as a result of the late diagnosis of flaws. His next sentence was, “That’s why I created SmartHelio.

While working in the Indian government’s energy department, Upadhyay met his future business partner, Neeraj Dasila. His upbringing in a Himalayan community with little resources is similar to that of Upadhyay’s.

The business is entering a dynamic market, but it faces surprisingly little competition from other firms of its kind since most software/AI firms are instead concentrating on facilitating the installation of solar panels or expanding the market for renewable energy. For instance, earlier this year, Glint Solar received $3 million for an AI-powered analytics platform to determine where to construct solar plants. A competitor, Aurora Solar, raised $250 million in the middle of 2021 and operates in a similar market. Recent fundraising rounds for installation companies include Enact Systems’ Series A round of $11 million, Zolar’s Series C round of $105 million, and Project Solar’s round of $23 million.

This round of financing

A number of prominent Swiss and American investors, including Collab Fund, Serpentine VC, ACE & Company, Pegasus Tech Venture, Gaingel VC, Soma Capital, and a slew of angel investors, joined Y Combinator to back SmartHelio in its Series A round.