$2.5M Pre-seed Round to Make Weather Forecasts More Accurate #SaaS

Summary

Andreas Brenner, co-founder and CEO of Jewel, discusses his journey from the old industry to founding multiple SaaS companies, including Jewel, a pre-revenue SaaS startup focusing on accurate weather forecasting using deep learning and IoT data. Brenner shares his fundraising experience, emphasizing the importance of networking and outreach to investors. He also highlights the potential scientific discoveries their AI model could yield and the company's plans for future growth, including commercial contracts and another funding round.

Takeaways

• 😀 Andreas Brenner is the co-founder and CEO of Jewel, a pre-revenue SaaS company specializing in accurate weather forecasts.
• 🌐 Andreas has a background in the SaaS industry, having previously founded Avrios, which was sold to Battery Ventures, and is also a founding investor in Cleanhub.
• 🌡️ Jewel's weather forecasting model is the first end-to-end deep learning-based model, utilizing both traditional meteorological data and IoT data from smart homes and cars.
• 💡 The company's approach to weather forecasting is innovative, as it allows machines to learn the physics of the atmosphere, rather than relying solely on numerical models.
• 📈 Jewel provides its services through an API and plans to offer customers the ability to fine-tune the weather model for their specific needs using their own data.
• 💼 Andreas has a business background but is also technically inclined, with experience in software and technology since a young age.
• 🌱 The company was founded in April 2022 and has grown to a team of 17, primarily focused on technology development.
• 📍 The team is spread across Zurich, Switzerland; Berlin, Germany; and Cape Town, South Africa.
• 💼 Andreas emphasizes the importance of network building for fundraising, having raised more capital than initially disclosed, and highlights the value of speaking to a large number of investors to ensure a good fit.
• 🔮 Jewel is currently in negotiations for its first commercial contracts and is considering another funding round in the future to support product development and market expansion.

Q & A

What is the name of the weather forecasting company founded by Andreas Brenner?

The company founded by Andreas Brenner is called Jewel (JUA).

What makes Jewel's weather forecasting model unique?

Jewel's weather forecasting model is unique because it is the world's first end-to-end deep learning-based model, which uses not only traditional governmental data sources but also IoT data from smart homes and cars.

How does Jewel plan to allow customers to customize their weather forecasts?

Jewel plans to provide an API and also release capabilities for customers to fine-tune the weather model for their specific purposes using their own custom data.

What is the business model for Jewel's weather forecasting service?

Jewel's business model is based on a subscription model where customers pay to access the API. They offer a fixed bundle with a usage component in theory, but in practice, it's offered as a fixed rate subscription.

When was Jewel founded and how many team members does it currently have?

Jewel was founded in April 2022 and currently has a team of 17 people, predominantly in technology roles.

What was Andreas Brenner's previous experience in the SaaS industry before founding Jewel?

Before founding Jewel, Andreas Brenner co-founded a company called Avrios in 2015, which grew to about 10 million in ARR before being sold to Battery Ventures. He was also a founding investor in Cleanhub and is on the board of two other SaaS companies.

How did Andreas Brenner's background influence the founding of Jewel?

Andreas Brenner's background in technology and business, along with his personal interest in weather due to activities like kite surfing and trail running, influenced the founding of Jewel. His experience in the SaaS industry and previous success with Avrios also played a significant role.

What was the process like for Jewel to raise their initial funding?

Jewel's initial funding was raised through a combination of Andreas Brenner's network and a lucky coincidence of a lead investor with experience in the weather industry seeing a LinkedIn announcement and reaching out.

What are some of the key industries that are interested in Jewel's weather forecasting service?

Key industries interested in Jewel's service include consumer weather apps, agriculture, and renewable energy sectors, where accurate precipitation forecasts are particularly valuable.

What are some of the challenges and exciting prospects that Jewel is currently facing?

Jewel is facing the challenge of understanding the new atmospheric physics learned by their machine learning model, which could lead to scientific discoveries. They are also in the exciting phase of negotiating their first commercial contracts and planning for future fundraising.