Sydney Angels are pleased to announce the latest exit from its portfolio of companies with the news that Schneider Electric has acquired Aurtra.
Aurtra, founded in 2017 and built upon technology developed at the University of Queensland, is an Australia based company that produces innovative sensors and software to monitor, analyse and provide actionable insights for electricity transformers.
A Sydney Angels syndicate of 20 members and the Sydney Angels Sidecar Fund invested in Aurtra after due diligence following impressive pitches by Terry Woodcroft and Stephan McRae, along with co-founder and CTO Richard Harris.
Sydney Angels was extremely pleased to be able to back the commercialisation of exciting technology with global export potential coming out of an Australian university. Sydney Angels members are obsessed with supporting great founders, building great businesses, creating jobs.
Schneider said in a statement that the investment strengthens its position as a provider of services across the full electrical distribution value chain.
“With this technology, we help customers avoid catastrophic and expensive transformer failures, optimise their operating expenses on individual or transformer fleets and ultimately extend transformer life”, said Pedro Robredo, VP of digital transformer services at Schneider Electric.
Sydney Angels joined other investment groups such as Brisbane Angels Group Limited, Melbourne Angels Inc and Uniseed. The leadership and professionalism of fellow Angel Investor and Non-Executive Director David Anstee was a key component of the success of Aurtra.
Over the two-year investment period, Sydney Angels members were pleased to receive 4.3 times return on their investment delivering an internal rate of return of over 60% pa.
Sydney Angels are pleased to announce the latest exit from its portfolio of companies with the news that Schneider Electric has acquired Aurtra.
