The new round of funding was led by VERBUND X Ventures – the corporate venture unit of Austria’s leading electricity provider VERBUND AG, which was joined by some of its existing investors – Early Game Ventures, Soulmates Ventures, MMC Greater London Fund – and Sofia Angels Ventures.
“With our investment in Ogre AI we are backing an innovative technology that can impact the entire energy industry, “said Michael Strugl, CEO of VERBUND X Ventures.
By generating more accurate forecasts for energy production and consumption, we can more efficiently integrate renewables into our business and optimize our grids. This is an important step in our strategy to promote innovative technologies that support the transition to a more sustainable energy system, the official added.
The new funding will support the development of the technology and the expansion of Ogre AI’s market presence.
“We are delighted to be working with VERBUND to develop our technology and expand into new markets. This partnership will help us develop solutions that will bring significant improvements in the sustainability and efficiency of power grids (…),” said Matei Stratan, founder and CEO of Ogre AI.
(English version by Loredana Fratila-Cristescu)