Spain

[Funding alert] Barcelona-based Delfos Secures €6.3 Million in Seed Funding

Jan 17, 2024 | By Startup Rise EU

Barcelona-based Delfos Secures €6.3 million in seed funding. Headline and Contrarian Ventures led this round. Participating investors were DOMO.VC and EDP Ventures.

Barcelona-based Delfos Secures €6.3 million in seed funding. Headline and Contrarian Ventures led this round. Participating investors were DOMO.VC and EDP Ventures.

The capital round will be utilised to propel growth in Europe, with collaborations with utility companies, owners of renewable energy assets, and operators/maintenance providers being sought after throughout the continent.

Read also - Oslo-based proptech Startup Plaace Raises €885k in Funding

Public entities, businesses, and asset management companies are included in this. Once Delfos has achieved enough traction in Europe and Latin America, it plans to expand to the United States in 2025.

RECOMMENDED FOR YOU

recomd
Funding
Berlin-based goodcarbon Raises €5.25 Million in Funding
Startup Rise EU
Apr 25, 2024
recomd
Funding
[Funding alert] Mesenbio Secures £1.4Million in Funding
Startup Rise EU
Jan 10, 2024
recomd
Sweden
[Funding alert] Luminar Ventures Raises €65M Second Fund focusing on AI and fintech in the Nordics
Startup Rise EU
Oct 7, 2023

Delfos developed real-time virtual engineer software that uses big data and artificial intelligence to automate performance and reliability workflow management for owners and managers of renewable energy estates. supplying all the data necessary for an engineer or C-level executive to oversee and maximise the return on investment, performance, and dependability of an asset.

Read also - London-based Fintech Company Carmoola Secures 15.5M in Equity Funding

Guilherme Studart, CEO of Delfos Energy, commented: “If we are to enable a green energy transition fully, the renewables at the heart of our future energy supply chain must be as efficient and reliable as possible. This is where Delfos comes in – our technology is designed to drive up the energy produced by each renewable asset, making them more lucrative to run, more efficient, and more appealing to investors looking to back the energy transition to net zero.”

With the use of a performance and reliability x-ray, utilities companies and renewable energy asset managers can detect possible faults, maintenance issues, downtime risks, and performance improvements in real-time before they result in a loss of power generation thanks to Delfos' software platform, which is available as a software as a service (SaaS) to B2B customers.

Read also - Berlin-based Startup Pliant Raises €8 Million in Series A Round Funding

This is especially important for distant renewable energy sources, like solar power. KWH Analytics' analysis indicates that underproduction and asset underutilization account for 92% of EBITDA loss in the solar energy industry.

Rokas Peciulaitis, Managing Partner at Contrarian Ventures, added: “Infrastructure investors in renewables want efficiency, stability and to be able to make timely decisions well in advance of failures to ensure their sites are up-and-running 24/7 with no down-time. Delfos’ predictive management platform is a critical software infrastructure layer to ensure resilience of those assets. We are excited to partner with an exceptional Delfos team, and are really impressed by their existing client trust and traction and believe they will be the leading product in the market as they scale across Europe and US in the coming years. ”

Romero Rodrigues, Managing Partner at Headline, said: “Delfos combines management and AI in one of the most attractive sectors today, which is renewable energy. With the need for sustainable development and the growth of the ESG agenda around the world, businesses like theirs stand out for solving real issues. Additionally, we were especially excited about the startup’s potential for international expansion.”

About Delfos

A company called Delfos is dedicated to the sophisticated management of assets in renewable energy parks. With tailored solutions for the hydro, solar, and wind industries, we currently oversee over 9 GW of installed power and over 2.5 million assets in Latin America alone.

Read also - German Wastewater Recycling Company Membion Secures €5 Million in Funding

Recommended Stories for You

story

[Funding alert] London-based HealthKey Secures €1.32 Million in Seed Funding

Startup Rise EU Apr 18, 2024

story
Funding

Index Venture funding news – London-based Index Ventures Secures $2.3 Billion in Funding

Startup Rise EU Jul 10, 2024

story
Funding

[Funding alert] Madrid-based Cüimo Secures €900k in Funding

Startup Rise EU Nov 23, 2023

story
Estonia

[Funding alert] Estonia-based Ecobase Raises €2.5M Seed Funding

Startup Rise EU Dec 12, 2023

story
Estonia

[Funding alert] Tallinn-based Cognitiwe Secures €1Million in Funding

Startup Rise EU Feb 21, 2024

story
Funding

Permia Sensing funding news – Agritech Startup Permia Sensing Raises £150k For AI-driven Palm Farming Solution

Startuprise Jul 15, 2024