Renewcast, an Italian AI-powered renewable vitality forecasting firm, has secured a €1 million SAFE (Easy Settlement for Future Fairness) funding from 2C Ventures Fund I, marking a strategic extension of its 2024 SAFE spherical.
This new funding will speed up Renewcast’s international business rollout and reinforce its place among the many world’s prime renewable forecasting know-how suppliers.
“This new funding is a vote of confidence in our long-term imaginative and prescient. Our crew is rising, our business engine is ramping up, and our know-how has confirmed it could ship measurable worth,” mentioned Fabio Nicolò, CEO and Founding father of Renewcast. “We purpose to be among the many prime 5–10 renewable forecasters globally inside the subsequent one to 2 years. With this funding, we’ll consolidate our tech crew, scale our business efforts throughout Europe, the US, Latin America, and Asia, and put together the corporate for institutional progress.”
Based in 2020, Renewcast develops high-precision forecasting options for renewable vitality utilizing a proprietary AI-driven stack. The corporate’s digital twin know-how fashions the chaotic conduct of climate and asset situations to allow intra-day, day-ahead, and multi-day forecasts that assist operational and buying and selling effectivity.
In accordance with the corporate, Renewcast has constantly outperformed legacy methods, delivering 20–40% improved accuracy and producing thousands and thousands in annual worth by way of decreased balancing prices.
Purchasers embody utilities, grid operators, and renewable asset managers throughout Europe and the US.
“Reasonably priced renewable vitality is the inspiration of transitioning to a sustainable financial mannequin and guaranteeing vitality independence. Nonetheless, the quickly growing volumes and accelerating electrification of the economic system make correct forecasting ever extra vital.
“We imagine that Renewcast has the substances to develop into a world chief in vitality intelligence – technical depth, early traction, and a transparent business roadmap,” mentioned Hendrik Reimand, Founding Associate at 2C Ventures.
With over 1.8 GW of put in renewable capability below energetic purchasers , Renewcast is quickly scaling its affect throughout key vitality markets. The corporate at the moment helps over 10 pilot programmes and has 4 business purchasers working throughout Europe and the US, with growth efforts focusing on India and Asia.
Renewcast has already grown greater than 2.5x versus 2024 and is making ready for a Sequence A spherical focused for late 2026.
The SAFE spherical stays open for extra traders as much as €1 million.
