Aurtra

About

Aurtra provides IoT- and SaaS-based power asset management solutions that use real-time monitoring and analytics to extend the operational life and enable condition-based maintenance of electricity transformers for utilities globally.

Mission

Aurtra provides power asset management solutions that use real-time monitoring to extend the life of energy transformers by ten years or longer. The company was formed in 2017 after licensing IoT and SaaS research from The University of Queensland; co-founders Terry Woodcroft, Stephan McRae, and Richard Harris have experience launching international products. Its first solution was installed with Energy Queensland four months after formation, and within two years the solution had been adopted by more than two thirds of Australian power distribution utilities. Aurtra positions its product as a response to a $1.7 trillion global problem stemming from a 30-year automatic transformer replacement cycle regardless of physical condition. The company will use the $2 million funding to leverage existing distribution in Australia, New Zealand, North America and Europe to drive new customer acquisition in the US, Asia, and Europe. Seed-stage investors including Sydney Angels and Uniseed are expected to support rapid global expansion and future capital raising.

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