I am John Georgiadis from Trafisense. Trafisense monitors dry type transformers which are critical components in electrical networks to estimate the required maintenance and provide early warning of hardware failures like power cut – offs.
How did it start?
Constantinos Psomopoulos and I have been friends for many, many years – closely following each other’s work. It all started a year ago when we initiated a discussion about a potential product that would combine our expertise. Constantinos came up with the idea and discussed it with me. It seemed realistic and achievable and most important – nobody seemed to have done this until now.
What is the problem?
Existing solutions are monitoring a very limited set of temperature measurements and provide alerts only a few minutes or hours before the failure occurs. On top of this, maintenance today is a standard procedure not focused on actual needs. The result is a costly and ineffective and a large number of unresolved failures. Trafisense solves the problem of poor, misguided and redundant maintenance of dry-type power transformers.
What about FIWARE?
The FIWARE technology is integrated in our system to process the data collected in the cloud and generate the reports and alerts. Using existing FIWARE components, we managed to quickly deliver our prototype infrastructure and do more work on our domain-specific problem rather than fighting implementation issues that FIWARE has already covered.
-This has really provided us with a fast track forward!
Why apply for INCENSe?
At this early stage of our startup the equity-free funding was very attractive to avoid dilution. In addition, in the domain we target, the use of IoT is very uncommon. So we decided to apply believing that we could innovate in this respect as well. We found the program and believed that our idea was in the scope – and then we were selected.
Your program experience so far?
The program has been extremely helpful. Besides the financial support, the business-oriented sessions have enabled us to tackle non-technical headaches in a systematic way. The headline “Entrepreunership can be taught” pretty much summarizes what we learned from the program so far.
Challenges and highlights?
We have had some major obstacles due to the lack of financial resources, it has been difficult to get feedback and validation from hard-to-reach customers, and identifying the best combination of sensors that would keep the cost down without sacrificing accuracy has been really time consuming.
But getting the initial customer feedback that verifies our assumptions and our solution, experiencing our prototype release and of course winning the INCESNe award – that is definitely something that makes the journey worth it!
We expect to have at least 4 installations by the end of this year and develop and release the next version of our minimal viable product. This will lead us to financing opportunities and allow us to grow through strategic partnerships with utilities & transportation, sensor manufacturing and dry-type transformer maintenance companies.