The first application will be weather modeling and forecasting for the energy sector. Jua also plans to expand the model to other sectors such as agriculture, insurance, transportation and public administration.
The $16 million investment in the seed round was provided by 468 Capital and Green Generation Fund, with the participation of Flix Mobility, Session.vc, Virtus Resources Partners, Notion.vc and InnoSuisse founders Promus Ventures, Kadmos Capital.
By combining more diverse and relevant data than existing solutions, Jua aims to create a more accurate model for predicting weather and climate change. The company claims that its model is more efficient and uses 10,000 times fewer computing resources than traditional systems.
Source: Ferra
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