Excarta Secures $2.5 Million for Its AI-Powered Weather Forecasting Platform
Artificial Intelligent-powered weather forecasting platform – Excarta recently secured an additional $2.5 million in funding, bringing its total raised capital to $3 million, aimed at advancing its innovative AI-driven weather forecasting technology.
The recent $2.5 million seed round was led by Village Global Partners (LLC), with participation from Ubiquity Ventures, Converge VC, and several angel investors. This funding follows a preceding round where the company had successfully raised $500,000 in early-stage funding, illustrating growing investor confidence in Excarta’s potential.
Founded in 2022, Excarta has become a leader in the commercialization of artificial intelligence for weather forecasting aimed at businesses. Excarta’s platform utilizes AI developments to provide businesses with precise and detailed weather forecasts that are customized to their unique requirements. These projections give organizations more efficiency and resilience while assisting in the mitigation of possible disasters as they cover longer periods of time and smaller geographic areas than traditional models.
By utilizing the power of AI, Excarta can analyze unlimited amounts of weather data, enabling hourly forecasts for up to 14 days. The platform goes beyond traditional forecasting by providing ensemble forecasts, not only predicting the most likely weather scenarios but also allowing to estimate forecast uncertainties. Additionally, Excarta’s AI models can be extended to incorporate other data types, enhancing performance for specific tasks such as forecasting solar irradiance or electrical load on the grid.
Excarta’s platform addresses the shortcomings of traditional weather models, which are often limited by data volume and temporal resolution. The company emphasizes the complexity of engaging with the current meteorological data stack, which suffers from data dispersion across various locations and formats.
Setting itself apart from traditional models, Excarta’s platform learns to emulate the physics of weather models at a fraction of the time and cost, facilitating interaction to generate crucial insights. Customers can easily access personalized forecasts through Excarta’s platform, eliminating the need for specialized weather expertise.
Pilot customers across industries such as supply chains, AgTech, and energy have already tested out and are continuing to use Excarta’s platform to enhance their operations. For instance, in the energy sector, businesses use it to optimize energy sources, improve energy trading, and ensure the safe operation of electrical grids. Similarly, in AgTech, Excarta supports in operational planning, including fertilizer spraying and pest prediction, ultimately increasing crop yield and reducing losses. Moreover, in Supply Chains, the platform optimizes routes and resources, facilitates contingency planning, and reduces insurance claims resulting from weather-related damages.
With a founding team of seasoned experts, Excarta stands as an industry innovator in innovation, combining the knowledge of professionals with over 15 years of experience in climate modelling and artificial intelligence. These highly skilled individuals come from esteemed organizations like Google Research, with significant contributions to the development of AI technology being made.
Excarta’s stay at DeepMind, which is well-known for its groundbreaking work in machine learning, highlights his dedication to expanding the realm of possibilities in weather forecasting. Excarta’s leadership in technological innovation is further cemented by the team members’ experience at Xerox PARC, where they refined their abilities to create innovative solutions for challenging issues. Excarta is a transformative force that is committed to using artificial intelligence (AI) to predict and lessen the effects of erratic weather patterns. This team’s collective wisdom and expertise enable businesses to successfully navigate and thrive in a continuously shifting climate.
Excarta’s AI-powered weather forecasting platform offers highly accurate and cost-effective solutions, revolutionizing how businesses prepare for and respond to changing weather conditions. As the company continues to innovate and expand its offerings, it remains committed to empowering businesses with actionable weather insights to drive growth and resilience in an increasingly volatile climate landscape.
