Quant Co.

Data analysis for renewables' instability problem.
Startup name
Quant Co.
Web address
Founding date
August 2016
Total team member
Startup stage
Paying users
Enterprise, Software
Product usage or interact
Server software (ie, databases)
Istanbul, Turkey

Elevator pitch

Renewable energy technologies suffer from source (wind, sun, etc.) instability which distorts electricity grid's health and therefore is costly. We developed a data management software, PreD, that aggregates all available data and processes them via tailor-made algorithms, so that the user can adjust power plant's daily position in the market in a way that forecasted and actual generation matches.


Ihsancan Ozpoyraz

BSc Industrial Eng. at Istanbul Tech. Uni., MSc Energy Economics at Uni. College London, PhD (c) at Koc Uni. 1.5 years of hands-on experience in TR energy market (Market Intelligence Analyst at Enerjisa / JV of E.ON, Trade Portfolio Analyst at Naksan Enerji). Skills: optimization, machine learning.

Şeyda Selki

BSc Industrial Eng. at Istanbul Tech. Uni.. 3 years experience in Turkish energy market, in positions with substantial initiatives such as refinance negotiating and providing analytical inputs for long-term strategic planning. Currently, working as Analyst at Limak Enerji.

Business model

Target customer

Renewable energy asset owners, power plant operators

Customer acquisition strategy

Free 3-month license

Revenue model

Annual license fee per power plant and in some cases profit-sharing.

Market info

Market size

$ 3,200,000,000



There are a few Western European companies from countries such as Austria, Norway that offer similar software solutions. However, their solutions do not support Eastern European and Turkish markets which we focus on. Moreover, they are not very interested to show up in these regions due to low market maturity level and alleged non-liberal markets in the eyes of them. Therefore we believe, we have the first-mover advantage for Turkish and Eastern European markets.


  • 7 Companies that we met so far, for PoC
  • 3 Power plants that we serve, paying users
  • 500 Customer acquisition cost (USD)
  • 40,000 Lifetime value (EUR/per power plant)
  • 500 Low cost scenario monthly burn (USD)
  • 8 Runway (months)

Startup traction

We have closed our first deal on September 2017, for PreD's version.1 for three power plants. We have been meeting with potential clients for the last 2-3 weeks. Approximately 70-80% of them lean towards to provide us an environment for PoC. Analyses for PoC will take 1-2 weeks, then we will offer them a 3-month free license to try the software live. We will be completely ready for live tests by November. Our software team is working hard to make version.2 of PreD fully operational by October 20. We progress as scheduled. We estimate that it will take 10 hours to setup the software for a new customer with approximately 10-15 power plants. Assuming that our software team costs 50 USD/hour, we calculate our CAC as 500 USD. Currently, we are burning money only for office rent and accounting. We have already been offered 50 K EUR from a VC, however we are planning to vest most of our shares in return for human resource (we are negotiating with two highly seniors) rather than seed money.

Add comment

We can only hypothetically estimate the total available market size. Calculation is based on these assumptions: Cost of imbalance for renewables is approximately 80 million USD in Turkey according to independent market reports (Turkish Wind Energy Association). Turkey's renewable capacity is 12 GW currently. We do focus on the EU market as well, especially the Eastern countries such as Romania, Greece. Total renewable capacity is around 480 GW in Europe, 40 times more than Turkey. Therefore we can roughly estimate that the total available market size is 3.2 billion USD, 40 times more than Turkey.

Publication date: 08 October 2017