Paris-based Highcast, which develops AI algorithms to help factories reduce electricity costs by optimizing production and maintenance planning, has secured €2 million. The proceeds will be used to empower industrial sites with smarter energy management.
- Founded in 2021 by Flore de Lasteyrie and Vivien Robert, Highcast creates AI-powered tools that help factories save 5% to 20% on electricity costs by optimizing production and maintenance schedules.
- Highcast combines real-world factory expertise with AI insights to create a digital model that predicts energy needs and provides an Electricity Cost Index (ICE), aiming to unlock unused data for better visibility and efficiency in energy consumption while supporting the energy transition and stabilizing markets to manage renewable energy variability.
Details of the deal
- The funding round was led by CS Ventures, the CentraleSupelec alumni fund, and undisclosed a private investor specializing in energy.
“CS Ventures supports startups in the CentraleSupelec ecosystem, particularly deeptech and industrial projects. Also accelerated by 21st by CentraleSupelec, Highcast is a perfect illustration of our roadmap and we are pleased to have led their first round of funding," claims Cédric Curtil, Executive Director of CS Ventures.
- The round also received support from AFI Ventures, along with VIF (Wendel family shareholders) and SUPER CAPITAL. Notable angel investors, including Jacques Gabillon, Laurent Courtois, François-Régis Dehery, and Vincent Bryant, also joined the round.
- The funds will be used for strategic hiring and enhancing Highcast's platform to better address energy market challenges, including carbon impacts and production constraints. This will help unlock untapped savings in factories and support Highcast's mission to reduce manufacturers' carbon footprints by providing tools to measure and optimize their carbon costs.
