We advised Inion LT, a startup developing solutions for solar power plant-generated electrical energy optimisation and monitoring, on attracting a EUR 500,000 investment. Venture capital fund Koinvesticinis fondas invested in the company together with business angels, venture capital fund Contrarian Ventures and startup accelerator 70 Ventures.
More efficient use of electricity
Inion LT developed a tool allowing more efficient use of solar power. It is unique in that it allows power plant owners or installers to monitor the data of various power plants on one platform. This solution has all the latest components of the Internet of Things, so it can be applied by both large solar power parks as well as private customers.
Says Šarūnas Stanaitis, Head of Inion LT: “Today, solar power plant installers face the problem of no longer being able to monitor whether the power plants they have installed are operating efficiently. We have noticed cases where power plants have not been operating for several weeks due to various failures and no one notices this because they do not have the appropriate means to detect those failures in time. Therefore, we have created a tool for solar power plant builders and service companies. When connected to our system, they can immediately access data on all their power plants, all alarms and can analyze the operation of each power plant separately.”
Our services and project team
This is the second investment in Inion LT, in which we have assisted the company. Venture capital fund Smart Energy Fund powered by Lietuvos Energija invested in the company in August 2019.
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