26 Apr 2022, Istanbul - Kavaken, today announced an investment of $500K led by Bogazici Ventures and Re-Pie Asset Management Inc. Kavaken generates additional value from renewable energy assets by using AI and machine learning. With a suite of modules available on the Kavaken platform, users understand their assets better to increase revenues and optimize costs. The easy to set up SaaS platform makes renewable energy assets more profitable and enables higher integration of green energy into the world for a more sustainable future.
The round was led by Bogazici Ventures and Re-Pie. Yetik Kadri Mert and Olcayto Yigit, veterans of the industry, as well as Osman Alp Arli, Yagiz Gokdemir and Muhammet Kaya participated in the round as angel investors.
Kavaken, founded by Bora Tokyay and Oguz Silahtar, was spun-off from the AI and machine learning powerhouse Tarentum in 2021 to accelerate growth with a sole focus on the cleantech industry. “The need for a clean world is evident. And the opportunity to make a difference in how the world is energized by using AI and machine learning is immense. With this funding we will accelerate our growth to become a globally recognized player in the cleantech industry and contribute to a more sustainable world by doing what we do best.” commented Bora Tokyay, Co-Founder and CEO of Kavaken.
Kavaken leverages the data available at renewable energy power plants, enabling asset owners and operators to know their assets better and maximize returns. With production forecasting, asset management, maintenance planning, predictive maintenance, and power booster modules, it reduces the manual workload and empowers users with AI and machine learning to make the right decisions.