encoord attracts $2.4 million investment
Energy modeling software company encoord has received $2.4mn investment from eight angel investors and rolled out SAInt 3.0 planning software to model electricity and gas networks.
It represents the second seven-figure investment round for encoord in the past two years and since doubling its headcount across Europe and North America in 2021, the company is confident in its ability to continue growing this year.
Since its commercialisation in 2017, SAInt has been advancing energy planning by allowing users to model independent and coupled energy networks to advise investment, reliability, and decarbonisation strategies.
The Scenario Analysis Interface for Energy Systems (SAInt) is a software platform that models energy networks and markets. With SAInt, planners and operators quantify and analyze the interdependencies and synergies between electricity and gas networks, which can enhance energy security and enable increased integration of renewable energy sources.
SAInt’s ability to run physical simulations and optimisation models of electricity networks allows users to quantify the trade-offs between cost and reliability and study the intersection of electricity markets and physical networks.
Carlo Brancucci, Co-founder and CEO of encoord, said tThere is an increased need for tools like SAInt in the market. “We see SAInt 3.0 as the foundation of the future reference modeling software for energy networks and markets. Given the growing complexity of energy systems and ambitious decarbonisation goals, decision-makers face new challenges. Our solution – our vision – is to provide a flexible and versatile modeling platform that empowers them to make strategic decisions, reduce costs, enhance reliability, and enable pathways towards decarbonisation.”
Kwabena Pambour, Co-founder and CTO of encoord, added: “Thanks to continued investment and our client partnerships, the software - which has been built on a modular design - continues to grow with the potential to add features that adapt with the ever-changing landscape in the energy transition.”
With its modern graphical user interface (GUI), SAInt offers a flexible application programming interface (API) which supports integration with existing decision making processes and enables users to plan future decarbonised energy systems.
Vanti Analytics raises $16mn
Israeil start up Vanti Analytics has raised $16mn in Series A funding led by New York-based global venture capital and private equity firm Insight Partners, with participation from existing investors True Ventures and MoreVC. This latest round brings Vanti's total funding to US$22mn since Smadar David and Nir Osiroff founded the company in 2019.
Leveraging patent-pending adaptive AI technology, Vanti's no-code solution allows manufacturing teams to build and deploy predictive models within a day, unlocking AI scalability for manufacturers across a broad range of industries including energy.
"Vanti is solving a critical pain point for manufacturing teams by enabling them to achieve true AI-driven insight into performance across the production value chain," said Jon Rosenbaum, Managing Director at Insight Partners.
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