§ 03 — Portfolio index
Parallel Quarterly ·
No. 20
20
Grid & Energy
Pre-seed
2024
Active
Founded in
Albany, New York
Founders
Mirela Costin, Joe Banerjee
Sector
Grid & Energy
First check
Pre-seed
Year
2024
Status
Active
Distribution transformers sit on poles and pads across every town, and most are replaced when they fail, not before. Clampwise makes a sensor that clamps onto the transformer, reads temperature, load and oil condition, and reports the result to the utility’s planning team. A crew installs one in eleven minutes, without a shutdown.
Mirela Costin designed sensors for an instrument maker. Joe Banerjee spent nine years on a utility’s asset-management team. They built the product to be insured and installed by a crew that has never heard of them. The planner gets a number and a trend, not a dashboard.
Clampwise has 2,400 sensors in service across three utilities, and its readings have flagged 41 units for early replacement, a few of which would have taken out a feeder in a heat wave. The company is working toward its first listing under a recognized safety standard.
Why we invested
The founders went with the clamp-on design so that a crew would not need a shutdown. That was the product decision that made the sales cycle shorter. We like founders who read the buyer's calendar.