Rome-based Renewcast, an AI-driven renewable energy forecasting company, has secured €1 million through a SAFE (Simple Agreement for Future Equity) investment from 2C Ventures Fund I.
- Renewcast was founded in 2020 by Fabio Nicolò, Ugo Mattoni, and Sibghat Ullah. The firm develops AI-driven forecasting solutions for renewable energy generation, primarily wind and solar.
- The platform uses proprietary machine learning models and a digital twin for each turbine to predict short-term, day-ahead, and medium-term power output with high precision.
- Its cloud-based infrastructure integrates meteorological data, turbine-specific corrections, and real-time measurements to model the complex and chaotic behavior of weather and asset conditions at every geographical point.
- The company provides forecasts through APIs and a client interface, updating predictions hourly and enabling operational and trading optimization.
- Renewcast also manages data quality and complexity on behalf of its clients, while its business model links pricing to forecasting performance, effectively sharing the financial risk and benefit of improved accuracy with energy operators.
Details of the deal
- The investment was made by 2C Ventures, an Estonian VC that recently launched its first fund targeting €50 million, focusing on early-stage cleantech startups in the Baltic and Nordic regions, with a particular emphasis on the Estonian market.
- With the €1 million SAFE funding, Renewcast will strengthen its AI and technology team and expand its commercial presence across Europe, the US, Latin America, India, and Asia. The company plans to accelerate its global rollout and scale pilot programs and client operations.
"We aim to be among the top 5–10 renewable forecasters globally within the next one to two years. With this funding, we will consolidate our tech team, scale our commercial efforts across Europe, the US, Latin America, and Asia, and prepare the company for institutional growth," claims Fabio Nicolò, CEO and Founder of Renewcast.
- The investment will also support preparations for a Series A round in late 2026, enabling institutional growth while continuing to provide high-precision renewable energy forecasts that optimize performance and generate substantial value for clients.
