Giant new fund makes first investment: “This is one of the most exceptional AI teams we’ve met”

Europe is lagging behind the US and China in the race for artificial intelligence, but in Aarhus, Denmark, an AI company is working on a technology that could be one of the continent’s strongest cards in the next wave. Models that understand and predict the physical world.

Cordulus has built one of the world’s largest networks of hyperlocal weather stations and trains its AI models on some of the world’s largest supercomputers. The result is weather forecasts based on real-time data, which is already widely used in agriculture and is now being brought into the energy market.

This comes with a new investment from Delphinus Venture CapitalFuel for startups' rocket ride. Venture capital is pro investors who create pool funds to seek innovation, and to mentor. It is high risk, high reward journeys. More, which also marks the fund’s very first investment and brings Cordulus’ total Series A round to a total of DKK 50 million.

Real-world AI as Europe’s next strength

According to Delphinus Venture Capital, Cordulus represents exactly the type of deep tech company Europe needs in the global AI competition.

“This is one of the most exceptional AI teams we’ve met. Cordulus is one of the proofs that Europe can compete in the battle for real-world AI. The team’s ability to connect advanced AI with something as physical and complex as weather is rare, and this is exactly the type of company Delphinus Venture Capital is here to invest in,” says Mathias Brink Lorenz, CEO of Delphinus Venture Capital.

While much of the AI race today is about bigger models and more computing power, Cordulus sees the next bottleneck elsewhere. Namely, access to quality data from the real world.

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“Our AI models are getting better every minute because we are collecting huge amounts of data from the physical world. Right now, the AI race is all about hardware, but the next big challenge will be getting enough quality data. Cordulus is already one step ahead. We collect millions of actual data points every single day. These are the labels from physical reality that are needed to take AI models to the next level,” says John Smedegaard, CEO of Cordulus.

From agriculture to energy trading

Today, agriculture is Cordulus’ largest market, where the hyperlocal forecasts are used to manage fertilizer, spraying and planning with greater precision than traditional models. But with the investment, the focus is now on the energy sector, where small fluctuations in weather conditions can shift markets in real time.

“We have customers in over 22 countries, spanning a wide range of industries. What they all have in common is that they are deeply affected by the weather and therefore depend on weather forecasts they can trust. This is where we contribute with clarity and accuracy and, not least in energy trading, we see great potential in using our technology,” says John Smedegaard.

The demand for accurate, hyperlocal forecasts is growing significantly in the energy market, where weather data is crucial for risk, portfolio optimization and pricing.

Backing from existing investors

Since 2019, Cordulus has had Danish Agro as an investor and main shareholder. They see the investment from Delphinus Venture Capital as a seal of approval of the company’s potential.

“We have proudly taken part in Cordulus’ development as a company, and the investment from Delphinus Venture Capital is further proof of the company’s enormous potential. Cordulus’ advanced technology and hyperlocal weather forecasts have in recent years created great value, not least for Northern European farmers,” says Henning Haahr, Group CEO of Danish Agro and Chairman of the Board of Cordulus.

Pajbjergfonden, Rockstart and a number of private investors are already on board.

“It is very positive that Delphinus Venture Capital now joins Cordulus. We see great potential in Cordulus’ weather solutions across many industries. The company’s innovative AI technology and robust weather stations are important tools when developing future plant varieties,” says Michael Stevns, Chairman of Pajbjergfonden.