§ 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.

Colophon

This issue is set in Newsreader, a typeface for long reading by Production Type, with Instrument Sans for the small print. Printed in the browser on 100% post-consumer pixels. No trees were harmed; several laptop fans were mildly inconvenienced.

Paper: #F4F1EA. Ink: #141414. One bottle of oxblood, used sparingly and signed out by both partners.

Pittsburgh

2100 Smallman Street, 3rd floor
Pittsburgh, PA 15222

Rotterdam

Keilestraat 14-B
3029 BP Rotterdam

Partners

Hana Voss, Pittsburgh
Teo Okafor, Rotterdam

Fine print

Nothing on this page is an offer to sell securities. It is, however, a standing offer to read your deck.

© 2026 Parallel Management, LLC

Vol. III · Issue No. 3 · Next issue: December

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