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Wegaw

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Wegaw process remote sensing satellite data with machine learning to optimize renewable energy production

174%
 - 
Funded 25 Jun 2021
€424,000 target
€739,305 from 533 investors
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Business overview

Location Morges, Switzerland
Social media
Website wegaw.com/
Sectors SaaS/PaaS Digital B2B
Company number CH-660.1.368.016-2
Incorporation date 26 May 2016
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Investment summary

Type Equity
Valuation (pre-money) €3.5M
Equity offered 17.31%
Tax relief N/A
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Business highlights

  • Closed 10 client commercial agreements in 2021 (3x of 2020 deals)
  • Closed 2 strategic partnerships on the hydropower and trading
  • 90%+ accuracy in our satellite-based unique datasets for energy
  • Supported by the European Space Agency
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Key features

  • Secondary Market
  • Nominee investment min. €10.40 +
  • Direct investment min. €50,000.00 +

Idea

Introduction

Wegaw is set to revolutionize renewable energy production, trading and management through the power of spatial data. Through our unique capability of enhancing satellite datasets with machine learning algorithms ingesting more than 260M data points, we are able to monitor renewable energy sources like water or snow, with extraordinary accuracy (+90%).

These datasets enable our client base (consisting of clean energy producers, grid operators and traders) to better forecast future energy production, therefore helping them reduce imbalance, increase energy production and optimize price per MWh traded.

How?

- Short term: Energy producers identify potential short-term energy production spikes (i.e. through snowmelt inferred water discharge detection) and optimize generation, increasing energy production by up to 10%

- Long term: Energy Traders and grid operators forecast future energy production based on the environmental indicators (water, snow, etc) optimizing up to 5% MWh trading price

Substantial accomplishments to date

- Successfully delivered snow and water datasets to hydropower energy & trading companies, unlocking a $ 9B market

- Total of 13 clients in the energy & water management industry and public sector, 10 of them signed in 2021, 3x what was achieved in 2020. With a range of client sizes from 200M turnover to 4B+ turnover companies

- Supported by key organizations in the European CleanTech and SpaceTech environment

- 2 Strategic industrial partnership closed to enlarge presence in the hydropower and trading industry

- SET100 certified startup by the startup energy transition international platform, promoted by the German Energy Agency (DENA)

Monetisation strategy

Wegaw delivers space data extracted datasets to our energy clients through an extensive sales and pre-sales process. As the outcome of our consultative sales, Wegaw generates a data provision subscription agreement that charges per power plant to be monitored. The subscription price is the following:

Image - Wegaw Snow Depth product used for hydropower energy and trading optimization

- Our proposal for energy traders is a 10% commission on the cumulative delta gain from trading with Wegaw datasets

- Energy utilities or grid operators are charged between $5k to $20k per power plant to be monitored

Use of proceeds

Wegaw has a laser-focused growth plan for the next 18 months, with the major objectives of:

1.- Construct the most solid pre-sales and sales process towards the energy industry with top tier sales and technical skills (60% of proceeds)

- Business development leadership

- Digital and traditional marketing leadership

- Pre-Sales process strategy and execution

- Client on-boarding automatization

- Externalized lead acquisition engine

2.- Add the additional functionalities that will unlock the remaining renewable energy market (40% of proceeds)

- Earth Observation and data analytics capabilities

- Development of additional environmental functionalities

- Environmental modelling and prediction capabilities

- Client platform development

Key Information

Exchange rate

Direct investments in the round from investors outside of Seedrs investing 335k Swiss Franc are reflected in the campaign at an agreed exchange rate of 1:0.913 CHF to EUR. Investments on Seedrs are in EUR.

Outstanding debts

The company has the following outstanding loans:

CHF 50k FIT Digital Seed loan from the Swiss State at 0% interest and 100% backed by the state. The loan is to be repaid in July 2024.
CHF 145k COVID19 Swiss Government aid loan at 0% interest and 100% backed by the state. The loan is to be repaid in July 2030.

The funds raised from this investment round will not be used to repay these loans.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for Wegaw has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 20 May 2021 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

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Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from €3,528,002

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

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