- Schneider Electric the leader in the digital transformation of energy management and automation has acquired Aurtra Pty Ltd
- The acquisition will position Aurtra’s cost-effective online transformer condition monitoring for transformer assets in the full electrical distribution value chain
Brisbane 14 March 2022. Schneider Electric, the leader in the digital transformation of energy management and automation has completed the acquisition of Aurtra Pty Ltd.
Aurtra Pty Ltd has developed an innovative condition-monitoring solution that collects data from transformers in electricity networks and turns the raw data into actionable insights for users and asset managers at large commercial, industrial and utility customers.
Aurtra was founded in 2017 by Dr Richard Harris, Steve McRae and Terry Woodcroft to commercialise Intellectual Property developed at the University of Queensland and licensed by UniQuest. The company then built upon the base IP and commenced shipping product in late 2017.
After an initial seed round supported by the Brice Family Office and leveraged with Queensland Government Advance Queensland Ignite Ideas grants and a Commonwealth Government Accelerating Commercialisation grant, Uniseed led a venture round in 2019 on the back of positive feedback from the Aurtra customer base. The round was also supported by Melbourne Angels, Sydney Angels and Brisbane Angels and high net worth investors.
The next two years saw Aurtra expand into 16 countries with product developed, supported and shipped from Brisbane. The key was the combination of available capital, an Internet of Things (IoT) platform and software architecture that facilitates ease of product rollout and support resulting in a unique product that delivered a very strong ROI to the customer.
This investment strengthens Schneider Electric’s position as the reference digital provider of services across the full electrical distribution value chain.
Uniseed is Australia’s longest running early stage commercialisation fund that makes investments in research emanating from five of Australia’s leading research organisations – The University of Queensland, The University of Sydney, The University of New South Wales, The University of Melbourne and the CSIRO. Uniseed is a mutual fund, owned by research organisations, for research organisations. The fund facilitates the commercialisation of its research partners’ most promising intellectual property and secures targeted investment in resulting products and technologies. Several of Uniseed’s investee companies have gone on to become successful and profitable commercial enterprises. For more information, visit www.uniseed.com
About Schnieder Electric
Schneider Electric is a multinational company providing energy and automation digital solutions for efficiency and sustainability. It addresses homes, buildings, data centers, infrastructure and industries, by combining energy technologies, real-time automation, software and services. Schneider drives digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centres, infrastructure and industries. For more information, visit www.se.com