Estonian 2C Ventures invests €1M in Italian AI startup Renewcast

Estonian venture fund 2C Ventures has invested €1M in Italian AI startup Renewcast as part of a SAFE round.

Renewcast is an Italian company specializing in renewable energy forecasting using artificial intelligence, particularly wind energy generation. The startup currently has more than 10 pilot programs and serves four commercial customers in Europe and the US, with plans to expand into India and Asia in the future. In 2024, Renewcast received €2M in a SAFE/CLA funding round. The company was founded in 2020 by Fabio Nicolo, Sibgat Ullah, and Ugo Mattoni.

Founded in 2024 by Herty Tammo, Hendrik Reimand, Taavi Veskimägi, and Martin Koppel, 2C Ventures aims to provide startups with initial investments ranging from €250K to €1M and follow-on investments in later rounds. In early 2024, 2C Ventures closed €32M for its fund, €20M of which was secured from the Estonian SmartCap Green Fund. The target size of the fund is €50M.

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