Kavaken, an England, UK-based provider of SaaS solutions for the renewable energy sector, has secured $1.1 million in seed funding.
Investors
This round saw investments from Vestel Ventures, Rockstart, Norrsken Accelerator, Founderone, and 2040VC. Previous backers include Bogazici Ventures, Re-pie, and notable industry figures Yetik Kadri Mert, Olcayto Yigit, and Samuel Jaudel.
Kavaken Use of Funds
The company will use the funding to expand its presence in the UK and European markets and advance product development initiatives to enhance its offering further.
About Kavaken
Founded by Bora Tokyay and Murat Yilmaz, Kavaken is a SaaS company that provides AI-powered solutions for energy companies. It leverages artificial intelligence to enhance the efficiency of renewable energy assets. The company offers services such as measuring and analyzing metrics, ensuring optimal output, predictive maintenance to prevent faults, monitoring and optimizing maintenance operations, and improving production forecasts for its customers. Kavaken conducts sectoral analyses with compliant standards and offers these services without the need for complex Excel files or SCADA screens
Funding Details
Company: Kavaken
Raised: $1.1M
Round: Seed Round
Funding Month: June 2024
Investors: Vestel Ventures, Rockstart, Norrsken Accelerator, Founderone, 2040VC, Bogazici Ventures, Re-pie, Yetik Kadri Mert, Olcayto Yigit, Samuel Jaudel
Company Website: https://www.kavaken.com/
Software Category: Maintenance Management
Source: https://siliconcanals.com/englands-kavaken-secures-1m/