Excarta is an AI-powered weather forecasting platform founded in 2022 in San Francisco, focused on making businesses resilient to volatile weather through high-resolution, accurate predictions.[1][2] It primarily serves industries like energy and insurance, solving problems such as load forecasting, extreme event response, and hail damage prevention by delivering actionable insights that outperform traditional physics-based models by up to 20% in error reduction for key variables.[1][2][3] The company offers a cloud-based platform with customizable APIs, dashboards, and alerts, backed by investors like Ubiquity Ventures, and has demonstrated growth through new model releases in 2024 and real-world impact, like preventing over 35% of hail claims in a 2024 insurance test.[2][3]
Excarta was founded in 2022 by Vivek Ramavajjala, CEO with 10 years at Google and DeepMind leading ML teams for data center efficiency and sales revenue, and Peetak Mitra, a PhD in Scientific Machine Learning from the University of Massachusetts Amherst, previously at Xerox PARC and Los Alamos National Laboratory.[1] The idea emerged from the recognition that weather-exposed sectors like energy needed better actionable forecasts beyond standard physics-based models, leading to AI-driven solutions for commercial use.[1][2] Early traction included a December 2023 launch, followed by April 2024 announcements of advanced graph-based and vision transformer models incorporating real-time data.[2]
Excarta rides the wave of AI-driven climate tech, capitalizing on advancements in machine learning for weather prediction amid rising climate volatility and extreme events like hail storms.[1][2][3] Timing is ideal as businesses in energy and insurance face escalating risks—90% of drivers want insurer warnings, yet traditional models lag—allowing Excarta's data-driven approach to enable resiliency, cost savings, and faster decisions.[3] Market forces like AI model evolution and real-time data integration favor it, positioning Excarta to influence the ecosystem by commercializing research-grade forecasting, reducing disaster mitigation costs, and inspiring similar AI applications in weather-vulnerable sectors.[2]
Excarta's momentum from 2024 model launches and proven insurance ROI signals strong scaling potential into energy and beyond, with expansions in real-time data and vertical-specific forecasts on the horizon.[2][3] Trends like AI efficiency gains and climate adaptation will propel it, potentially evolving its influence through partnerships that standardize AI weather intelligence across industries. As volatile weather intensifies, Excarta stands out as a resilient bet for businesses seeking an edge in uncertainty, fulfilling its founding mission to turn forecasts into safeguards.[1]
Excarta has raised $3.0M in total across 1 funding round.
Excarta's investors include 186 Ventures, Accomplice VC, Arrive, Baseline Ventures, Boston Seed Capital, Founder Collective, Impellent Ventures, NextGen Venture Partners, NextView Ventures, Operator Collective, Predictive VC, The Hit Forge.
Excarta has raised $3.0M across 1 funding round. Most recently, it raised $3.0M Seed in December 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2023 | $3.0M Seed | 186 Ventures, Accomplice VC, Arrive, Baseline Ventures, Boston Seed Capital, Founder Collective, Impellent Ventures, NextGen Venture Partners, NextView Ventures, Operator Collective, Predictive VC, The Hit Forge, Village Global, VitalStage Ventures, Y Combinator, David Chang, Jeff Seibert, Jennifer Lum, Scott Belsky, Wayne Chang |
