Tel Aviv-based startup REplace has raised $2.1 million to grow its AI-powered platform, which helps speed up and simplify the development of renewable energy and data center projects.
The funding round was led by Gravity Climate, a group that includes Dr Bracha Halaf, former Chief Scientist at Israel’s Ministry of Energy, and Zafrir Yoeli, Co-Founder of Enlight. The company plans to use the money to expand its business in the U.S. market.
REplace’s platform uses special algorithms to quickly study more than 50 factors, such as land ownership, access to the power grid, permit issues, and market conditions. This helps decide if a location is good for building a renewable energy or data center project.
Thanks to this technology, what used to take months can now be done in just seconds. This saves a lot of time and money and helps projects get started much faster.
REplace is setting a new standard for how renewable energy and data center projects are developed and planned,” said Matias Sigal, Co-Founder and CEO. “This investment fuels our vision to become the definitive platform for renewable energy development and acquisition and to help drive the global energy transition at the speed the world demands.”
“By applying advanced AI to real estate and site selection, permitting, and project M&A, we’re compressing timelines from months into seconds—unlocking faster development, lower costs, and smarter decisions,” added Alan Algamis, Co-Founder and CTO.
Founded in 2023, REplace already works with major energy companies like Iberdrola (through a partnership with Kyoto), EDF Renewables, Doral Energy, Elawan, and Bithenergy.
With the new funding, the company plans to hire more engineers and improve its use of AI in tools that help with finding and buying land for projects.
Read more- Buildots has raises $45 million in a Series D funding round
