England’s Kavaken secures €1M from Amsterdam’s Rockstart, others to improve the efficiency of renewable energy plants

England-based Kavaken, a provider of SaaS solutions for the renewable energy sector, announced that it has secured $1.1M (approximately €1M) in seed funding rounds from Vestel Ventures, Rockstart, Norrsken Accelerator, Founderone, and 2040VC.

Existing investors include Bogazici Ventures, Re-pie, and esteemed industry figures Yetik Kadri Mert, Olcayto Yigit, and Samuel Jaudel.

The company will use the funds to expand its presence in the UK and European markets and advance product development initiatives to enhance its offering further.

Bora Tokyay, Co-Founder and CEO of Kavaken says, “This successful funding round underscores the confidence investors have in Kavaken’s vision to revolutionise the renewable energy sector through a scalable and individualised approach to assets. With this support, we are well-positioned to further develop our platform and expand our presence across the UK and Europe.”

Kavaken: Improving the efficiency of renewable energy assets

Founded by Bora Tokyay and Murat Yilmaz, Kavaken is a company that uses artificial intelligence to improve the efficiency of renewable energy assets.

The company provides services such as measuring and analysing metrics, ensuring optimal output, predictive maintenance to prevent faults, monitoring, and optimising maintenance operations, and improving production forecasts for its customers.

The company conducts sectoral analyses with compliant standards and offers these services without the need for complex Excel files or SCADA screens.

 Through its platform, Kavaken aims to reshape the way renewable energy plants are operated, financed, and insured, making asset management efficient.

The investor

Rockstart is an early-stage investor that empowers purpose-driven founders across three domains: Energy, AgriFood, and Emerging Technologies.

The company invests in early-stage startups from each of the three funds and provides access to capital, market, and expertise by connecting founders with co-investors, mentors, partners, corporates, and the wider

Rockstart has invested in more than 350 startups and its alumni value to date is more than €1.3bn.

Max ter Horst, Managing Partner of Rockstart Energy, says, “At Rockstart, we are committed to supporting disruptive technologies that have the potential to reshape the energy landscape. Kavaken’s unique platform holds immense promise for transforming how renewable energy plants are managed, financed, and insured, and we are thrilled to be part of their journey.”