AI-based weather forecasts for energy and agriculture
The start-up Jua.ai has secured around 9 million Swiss francs (11 million dollars) in a Series A financing round. Jua wants to use this to accelerate the market launch of its Earth Intelligence Platform, which is designed to enable energy traders to make faster and more reliable decisions.
The Zurich-based start-up Jua.ai has closed a Series A financing round totalling over 9 million Swiss francs, according to an article on startupticker.ch. The financing round was led by Ananda Impact Ventures and Future Energy Ventures and supported by existing investors such as 468 Capital and Promus Ventures. Jua plans to use the funding to accelerate the market launch of its Earth Intelligence Platform. This will enable more accurate weather forecasting to help energy traders make faster and more profitable decisions.
The platform is powered by Jua’s artificial intelligence (AI) model EPT-2.0 and is designed to significantly outperform the weather forecasting performance of conventional numerical weather models and AI models from large technology companies. Precise weather forecasts are particularly important for sectors such as energy, agriculture, aviation and shipping. The AI-based earth simulation is intended to provide a consistent and physically simulating platform to enable reliable decisions in various sectors in the face of increasing weather extremes and weather changes.
Jua 2024 has already secured around 13 million Swiss francs in its seed financing round. As part of this year’s capital increase, Marvin Gabler, co-founder and architect of EPT-2.0, has now been appointed as the new CEO. He succeeds Andreas Brenner, who has led Jua since its foundation in 2022. With Gabler at the helm, the company intends to focus on scaling its platform in the energy sector and expanding into new markets. “With our Earth Intelligence Platform, we have transformed the world’s most advanced Earth simulation into a real-world decision engine,” Gabler is quoted as saying in the article. “This is a fundamental step towards shaping our planetary future.”