Delfos, a Barcelona, Spain-based virtual engineer software for renewable energy assets, has raised €6.3 million in seed funding.
SaaS Investors
The round was led by Contrarian Ventures and Headline. Existing investors DOMO.VC and EDP Ventures also participated.
Founded in 2017, Contrarian Ventures is a venture capital firm headquartered in Vilnius, Lithuania. The firm invests in early-stage companies operating in the next-generation energy sector working on the sustainable energy transition in Europe and Israel.
Headline is a venture capital firm based in San Francisco, California. Founded in 1998, the firm seeks to invest in companies operating in the fintech, e-commerce, software, digital health, developer tools, open-source, media, digital innovation, and consumer services sectors.
Delfos Use of Funds
The company plans to use the capital to drive expansion in Europe, targeting partnerships with renewable energy asset owners, operations/maintenance providers, and utility companies. Delfos aims to expand to the U.S. in 2025 after gaining sufficient traction in Europe and Latin America.
About Delfos
Delfos provides real-time virtual engineer software that uses AI and big data to offer automated performance and reliability workflow management for renewable energy estates. The platform, offered as Software as a Service (SaaS) to B2B customers, enables utility companies and renewable energy asset managers to identify potential performance improvements, maintenance issues, downtime risks, and faults in real time through a performance and reliability x-ray. Delfos, headquartered in Barcelona, Spain, and with operations in Brazil, plans to expand its team by hiring 12 employees in Spain and across Europe within the next six months.
Funding Details
Company: Delfos Engenharia Ltda
Raised: €6.3M
Round: Seed Round
Funding Month: January 2024
Lead Investors: Contrarian Ventures and Headline
Additional Investors: DOMO.VC and EDP Ventures
Company Website: https://www.delfos.energy/
Software Category: Virtual Engineer Software for Renewable Energy Assets
Source: https://www.eu-startups.com/2024/01/barcelona-based-delfos-bags-e6-3-million-to-improve-performance-of-renewable-energy-power-plants/