Excarta, a San Mateo, CA-based company commercializing AI for business-targeted weather forecasting, raised $2.5M in Seed funding.
The round was led by Village Global and joined by Ubiquity Ventures, Converge VC and angel investors
The company intends to use the funds to expand operations and its business reach.
Founded in 2022 by Vivek Ramavajjala, chief executive officer, Excarta was formed to commercialize AI for business-targeted weather forecasting. The company’s system enables businesses to produce accurate, high-resolution weather forecasts for the parameters they care about to gain greater efficiencies and resiliency while mitigating disasters. It offers a cloud-based platform that can utilize unlimited amounts of weather data to study and forecast weather for geographies a fraction of traditional size with great accuracy and covering greater time spans.
Pilot customers are already using the cloud platform for business value, including:
- Energy (utilities and traders) – optimization of energy sources, better energy trading, load planning and safe operation of electrical grids
- AgTech – planning of operations, such as fertilizer spraying, increasing crop yield and reducing losses using pest prediction
- Supply chains – optimization of routes and resources, contingency planning, better delivery certainty and lower insurance claims from weather damage
FinSMEs
19/12/2023