Kayrros Raises €9M to Bring Predictive Analytics to the Energy Sector
Company will use funds to accelerate hiring and product development
Kayrros, the predictive analytics for energy markets company, today announces the completion of an €9 million equity fundraising in a Series A financing round led by Index Ventures.
The fundraising will enable Kayrros to accelerate the development and commercialization of its disruptive information products, and recruit 40 new employees to its growing teams in Paris, New York and the Bay Area.
Kayrros develops technologies applying machine learning, advanced mathematics and quantitative finance with petroleum engineering, to provide predictive analytics on global oil and gas and energy market fundamentals.
The Series A financing was led by Index Ventures, with several experienced energy industry investors including Lord Browne of Madingley (former CEO BP plc and past President, Royal Academy of Engineering) and Marcel van Poecke (Chairman and Founder, AtlasInvest and Head of the Carlyle International Energy Partnership) also participating.
Lord Browne will also join the Kayrros Advisory Board, alongside Andrew Gould, Kayrros Advisory Board Chairman, Andre Levy-Lang and Jose Scheinkman.
The fundraising follows successful beta testing and trials with foundation clients of Kayrros’ initial product set. Kayrros will now expand its sales operations, and add to its development teams.
Antoine Rostand, President and Founder of Kayrros, commented:
"We are pleased to have closed our Series A financing and welcome a group of supportive and experienced investors to the Company."
"Beta testing and client trials delivered results that exceeded our expectations, particularly in terms of the predictions accuracy and both sector and geographic coverage. Having secured this fundraising, Kayrros will be able to take the business to its next stage. For that purpose, we will continue to search for and recruit the best talent in the US and Europe to fulfill our growth plan."
Dominique Vidal, Partner at Index Ventures commented:
"It is not common to find a combination of an extremely experienced senior team, deep industry knowledge and scientific competency as the one present at Kayrros. Through its unique technology, the company is unlocking a vast and untapped market that hasn't to date benefited from the advancements in data science and machine learning."
Kayrros develops predictive analytics products combining machine learning, advanced mathematics and quantitative finance with petroleum engineering to bring new insights and transparency to energy markets.
Kayrros was founded in 2016 in Paris, New York and Berkeley, California by Jean-Michel Lasry, Alexandre d’Aspremont, Laurent El Ghaoui, Antoine Halff and Antoine Rostand, who is serving as Kayrros President.