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.
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.
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.
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.
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.”
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.