Ogre AI is a Bucharest-based company that provides AI solutions for the energy sector, specializing in advanced forecasting tools. Its flagship product, the Ogre forecasting system, uses machine learning to predict energy generation and demand and to manage variability from solar and wind power. The company focuses on reducing the uncertainty of renewable energy output and fluctuations in energy demand. In September 2024 it raised €3.0M in a funding round led by VERBUND X Ventures with participation from Early Game Ventures, Soulmates Ventures, MMC VC Fund, and Sofia Angels Ventures. The funding will be used to expand the company's technology and market presence. VERBUND X Ventures is the corporate venture arm of Austria's main electricity supplier and invests in early-stage renewable energy companies across Europe. Ogre AI develops ML- and AI-driven forecasting and anomaly-detection products for the energy industry, predicting generation, consumption, technological and commercial losses, and system anomalies. Its solutions have been implemented at major utilities including Enel, CEZ, Engie, PPC, DEER and E.ON. The company says its products have helped customers reduce financial losses by up to 30% caused by inadequate forecasting tools. Ogre AI is preparing for a new funding round and aims to become a leading provider of analysis and forecasting solutions for the energy market. The startup anticipates reaching revenues of one million dollars in 2024. Ogre AI is headquartered in London with offices in Bucharest and Athens, and was founded and is led by Matei Stratan (CEO) alongside co‑founders Mihai Cucuringu (CRO) and Paul Muscă (CTO). SC Ogre Artificial Intelligence SRL (Ogre AI) is a Romanian data‑science startup offering an AI platform for energy management that uses machine learning to support financial and operational decision‑making. Its software helps partners forecast generation and consumption and detect network/grid technical and commercial losses and anomalies. Ogre AI works with energy and utility companies to integrate forecasting and anomaly detection into operations. The team is developing an innovative price‑forecast system intended to aid grid management and trading decisions. The company emphasizes that data science and AI are shaping the future of the energy industry. In February 2022 Ogre AI completed a €2.0M seed funding round, reflecting early-stage external validation of its product and market approach.

Total raised

$6M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2024