Data science startup Ogre AI raises €2 million from EGV and MMC Ventures

0
40
Ogre AI, the data science company specializing in machine learning and artificial intelligence solutions for the energy sector, has announced a €2 million seed round led by EGV, with the participation of the London-based VC fund MMC Ventures and international business angels.

The energy industry is at the edge of a new dawn, with its future challenged by a multitude of factors and leading to a spectacular sector transformation. Regulatory driven transition from fossil fuels to renewables, e-mobility, prosumer growth and volatility in the energy prices and markets are now reshaping the industry and adding pressure on the market participants.

As digitalization already became a key success factor for these companies, leveraging machine learning and artificial intelligence becomes compulsory in order to meet operational excellence and mitigate risk.

Ogre AI works with its partners on forecasting generation, consumption, network / grid technical and commercial losses and anomalies. The team is also on its way to building an innovative price forecast system that will aid with decision making in grid management and trading.

Read more about this on start-up.ro.