MESPAC Unlocks Access to Offshore Metocean Data with €1.5M Funding
Deal News | Jan 31, 2025 | CDP Venture Capital
MESPAC, a spin-off from the Politecnico di Torino, has secured €1.5 million in seed funding to accelerate its development of metocean data solutions. The funding round was led by Galaxia, a hub of CDP Venture Capital focused on aerospace, alongside Axon Partners Group, COREangels Climate, and Piemonte Next. MESPAC aims to revolutionize the collection and analysis of metocean data to benefit offshore wind farm developers by integrating satellite and in-situ data through its proprietary artificial intelligence algorithms. The investment will support the completion of platform development and its launch, backed by industry partnerships for real-world validation. The project aims to provide faster, accurate, and reliable meteorological data, critical for planning and optimizing offshore renewable energy projects. Both CDP Venture Capital and Finpiemonte expressed their commitment to supporting innovative technologies that address environmental sustainability and contribute to the region’s development.
Sectors
- Aerospace
- Renewable Energy
- Technology & Innovation
Geography
- Italy – MESPAC is based in Italy, and the funding was supported by Italian institutions.
- Europe – Investment involves European entities and is part of broader European efforts in technology and sustainability.
Industry
- Aerospace – Relevant because MESPAC's technology involves the integration of satellite data.
- Renewable Energy – MESPAC's solutions aim to optimize offshore wind farm development, key for the renewable energy sector.
- Technology & Innovation – The use of artificial intelligence algorithms and satellite data demonstrates innovation in technology.
Financials
- €1.5M – Total size of the seed funding round secured by MESPAC.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MESPAC | Target Company | Company | Specializes in integrating satellite and in-situ data for metocean data analysis using AI. |
| CDP Venture Capital | Investor | Company | Italian venture capital firm focusing on innovation and technology transfer. |
| Axon Partners Group | Investor | Company | International investment firm with a focus on technology and innovation. |
| COREangels Climate | Investor | Company | An investment group focusing on climate-related technologies. |
| Piemonte Next | Investor | Company | A fund managed by CDP Venture Capital supporting regional innovation. |
| FinPiemonte | Investor | Company | Regional financial institution subscribing to the Piemonte Next fund. |
| Politecnico di Torino | Parent Institution | Company | Educational and research institution where MESPAC originated as a spin-off. |