raicoon closes seed financing in the amount of €4 million
raicoon secures €4 million in seed funding to expand its climate tech business. The company is transforming the management of solar plants with AI technology.
VIENNA /PRNewswire/ -- Climate tech company raicoon has announced €4 million in seed funding. These funds will be used to enter new markets, expand the product offering and grow the team. The financing round was supported by renowned climate, tech and impact funds such as PUSH VC, Voltares and a private family office. This step should open up opportunities for innovation and global expansion for raicoon.
This seed funding is a significant milestone for both raicoon and the entire renewable energy sector. We are overcoming manual shortcomings and reshaping the entire operating model with the power of autonomy.
Ralf Tschanun, CEO and founder of raicoon
raicoon is known for its autonomous operations center (AOC), which operates solar PV systems more efficiently using AI technology. The cloud-based B2B SaaS platform from raicoon is said to increase energy yields by around 6% and reduce operating costs (OPEX) by 30-50%. Another special feature of raicoon is the 100%ige fault detection guarantee, which is supported by Munich Re. This is to ensure that raicoon does not trigger false alarms and guarantees the reliability of solar installations.
raicoon's focus on saving valuable renewable energy from being wasted is a cause that is very close to our hearts
Cornelius Patt, CEO and founder of Voltares
The funding will be used as follows:
- Software upgrades: raicoon plans to improve the AI and ML capabilities of its platform.
- Self-Service SaaS: A new self-service portal will be developed to facilitate access to autonomous energy management.
- Global presence: raicoon intends to deepen its presence in the US and APAC and establish local subsidiaries.
- Team expansion: Customer support will be improved, a global sales organization will be established and software development will be expanded.
We will be following raicoon's progress closely in the coming months.
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