EDP Ventures Brasil, the EDP Group's venture capital investment conduit, and Criatec 3, fund managed by INSEED Investimentos and created by BNDES, announced a co-investment of R$ 4.5 million at Fractal Engenharia e Sistemas. The company from Santa Catarina develops solutions for forecasting hydrological events and intelligent systems capable of assisting in the management of dams, promoting process automation and increasing the safety level of hydroelectric plants in the country.
Pioneer in Brazil, Fractal's own integrated technology platform, which includes machine learning and big data, consolidates several services that contribute to water resources management, such as meteorology, watershed monitoring, telemetry (technological monitoring system), flow prediction and dam break study, which assesses the potential impacts of dam rupture.
The analysis system developed by Fractal is responsible for applying meteorological data and cross-checking information, and is able to predict the impact of rain - in terms of increased water volume on rivers - and help to prevent floods, droughts and others critical accidents related to natural phenomena.
“Our hydroelectric plants are acknowledged by Aneel for the severity and excellence of its operations. Recently, the Lajeado Power Plant was considered the best in Brazil, with a score of 100 in Safety and Environment, according to the industry regulator body. In addition to the investment, which is in line with EDP's best practices, we will conduct a pilot project with the management model offered by Fractal to further improve the efficiency of our power plants”, says Livia Brando, Strategy, Innovation and Ventures Executive Manager of EDP in Brazil.
Criatec 3 Fund invests in high-tech companies and found in Fractal a business with high growth potential. “In addition to the in-depth knowledge involved, Fractal has caught the attention of our team by delivering more accurate, less costly real-time forecasts,” says Gustavo Junqueira, CEO of INSEED.
“The input of EDP Ventures Brasil and INSEED will be essential for the development of new technologies and tools that will make the platform increasingly intelligent and autonomous. We want to contribute to increase efficiency and assertiveness in company decision-making through real-time analysis of the power plants and a more accurate diagnosis of water processes”, says Henrique Lucini Rocha, CEO of Fractal Engenharia e Sistemas.
Created in May 2018, EDP Ventures Brasil is the first investment conduit of the Brazilian electric sector, with R$ 30 million in resources to be used for startups operating in six verticals: renewable energy, smart grids, energy storage, digital innovation (blockchain, IoT, big data, virtual reality), customer-focused solutions and cross-cutting areas (legal techs, fintechs, hrtechs). Interested people can visit www.edpventures.vc for more information.
Since 2008, EDP Group's Venture Capital conduits have invested 33 million euros globally in 27 startups, which together employ more than 750 employees and have more than 100 million Euros of revenue per year.
About EDP Brasil
With over 20 years of experience, EDP is one of the largest private companies in the electricity sector operating throughout the value chain. The Company, which has over 10,000 direct and outsourced employees, operates in Generation, Distribution, Transmission, Trading and Energy Services. It has six hydroelectric and one thermoelectric generation units, and serves about 3.5 million customers through its Distributors in São Paulo and Espírito Santo. Recently, it became CELESC's main shareholder in Santa Catarina. In Brazil, it is a reference in areas such as Innovation, Governance and Sustainability, having been in the B3´s Corporate Sustainability Index (ISE) for 13 consecutive years.
About Criatec 3 Fund
Created by BNDES in 2016, Criatec 3 Fund seeks innovative companies with high growth potential to provide capital, strategy and governance. BNDES itself, funding agencies, corporations and private players are investors of the Fund. In Santa Catarina, the regional shareholder is the Banco Regional de Desenvolvimento do Extremo Sul (BRDE).
About INSEED Investimentos
INSEED is the largest B2B Venture Capital manager in Brazil, with over 15 years of experience in technology-based entrepreneurship. It manages 3 Funds and has R$ 485 million of committed capital. It has already made 67 investments in different areas of knowledge and marketing applications. The management team has reviewed over 5,000 opportunities.