This article was originally published at: https://breaking9to5.com/delfos-raises-e6-3m-for-ai-powered-energy-software-expansion/

Barcelona-based start-up Delfos has raised €6.3 million ($6.9 million) in a seed funding round to broaden the reach of its AI energy software throughout Europe. The company’s real-time virtual engineer supports the renewable energy sector by leveraging AI and big data to automate performance, workflow, and dependability. Climate tech VC Contrarian Ventures and Headline led the funding round, with contributions also coming from DOMO.VC and EDP Ventures. With this new funding, Delfos aims to expand its footprint beyond the Iberian Peninsula, helping utility companies optimize their renewable energy assets and reduce costs. The platform provides valuable insights to increase efficiency, streamline operations, and predict maintenance needs, contributing to a more sustainable energy future.

Current accomplishments

Currently, Delfos monitors over 10GW of renewable energy using its software, professing to enhance operational efficiency, decrease component replacement expenses by 30%, and boost energy production by 3-5%. The company’s success is owed to its advanced algorithms and machine learning capabilities that enable predictive maintenance, accurate forecasting, and real-time decision-making. As the demand for sustainable energy sources grows globally, Delfos’ innovative approach continues to drive significant improvements and cost savings in the renewable energy sector.

Software as a Service (SaaS) product

The firm’s SaaS product aids energy companies in pinpointing network issues prior to power generation loss and identifying component failures before they result in significant downtime, an essential feature for remote assets such as solar energy. This proactive approach not only enhances the reliability and efficiency of energy production, but also minimizes the time and resources needed for maintenance and repairs. By leveraging predictive analytics, the SaaS platform contributes to optimizing the overall performance and sustainability of energy networks.

CEO’s perspective

Delfos’ CEO, Guilherme Studart, underscored the significance of ensuring that renewable assets are as efficient and reliable as possible for a complete transition to green energy. He highlighted the importance of continuous innovation and integration of advanced technologies in optimizing the performance of renewable energy sources. Studart also emphasized that collaboration among governments, industries, and research institutions is key to accelerating the widespread adoption of clean energy solutions.

Future plans

The start-up, which relocated its headquarters from Brazil to target the European market, intends to utilize the seed funding to grow in Europe, recruit in Barcelona and other European areas, and focus on utility companies, maintenance providers, and renewable energy asset owners for its product offering. By offering innovative solutions tailored to the specific needs of these target clients, the start-up aims to address the challenges faced in managing and maintaining renewable energy infrastructure. In addition to expanding its presence in the market, their goal is to establish strategic partnerships with key players in the industry to strengthen their position and contribute to the acceleration of the renewable energy transition.

First Reported on: forbes.com

Frequently Asked Questions

What is Delfos and what do they do?

Delfos is a Barcelona-based start-up that developed real-time virtual engineer software with the aid of AI and big data to automate performance, workflow, and dependability in the renewable energy sector. Their software helps utility companies optimize their renewable energy assets while reducing costs. Delfos provides valuable insights to increase efficiency, streamline operations, and predict maintenance needs, contributing to a more sustainable energy future.

How much funding has Delfos raised and who are the investors?

Delfos has raised €6.3 million ($6.9 million) in a seed funding round. This round was led by Climate tech VC Contrarian Ventures and Headline, with contributions also coming from DOMO.VC and EDP Ventures.

What are the current accomplishments of Delfos?

Presently, Delfos monitors over 10GW of renewable energy using its software. The company claims to enhance operational efficiency, decrease component replacement expenses by 30%, and boost energy production by 3-5%. Their advanced algorithms and machine learning capabilities enable predictive maintenance, accurate forecasting, and real-time decision-making.

What is the Software as a Service (SaaS) product offered by Delfos?

Delfos’ SaaS product helps energy companies identify network issues before power generation loss and spot component failures before they result in significant downtime. This proactive approach enhances the reliability and efficiency of energy production while minimizing the time and resources needed for maintenance and repairs. The SaaS platform uses predictive analytics to optimize the overall performance and sustainability of energy networks.

What are the future plans for Delfos?

Delfos plans to use the seed funding to expand its presence in Europe, recruit in Barcelona and other European areas, and focus on utility companies, maintenance providers, and renewable energy asset owners for its product offering. The start-up also aims to establish strategic partnerships with key players in the industry to strengthen their position and contribute to the acceleration of the renewable energy transition.

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This article was originally published at: https://breaking9to5.com/delfos-raises-e6-3m-for-ai-powered-energy-software-expansion/

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