Ogre AI, the Romanian data science startup specializing in machine learning and artificial intelligence (AI) solutions for the energy sector, won last week the CEE Startup Challenge competition organized by Vestbee. The company recently received new funding from Soulmates Ventures and aims to reach EUR 1 million in recurring revenues in one year. 

Vestbee is a leading ecosystem platform for startups in Central and Eastern Europe, connecting global investors (business angels, accelerators, venture capital funds, corporations) with thousands of European startups in various technology fields.

"We are excited to win this competition all the more because an impressive number of investment experts participated in the evaluation of all the startups entered. […] Winning the CEE Startup Challenge 2023 is also a driving force for us to continue the development of modern technological solutions that already contribute to the migration towards greener and more sustainable energy alternatives," said Matei Stratan, CEO and co-founder of Ogre AI.

Ogre AI was named Vestbee's startup of the month in September, the month in which it completed a EUR 625,000 funding round with Soulmates Ventures. The company has ambitious medium and long-term development plans, including reaching recurring revenues of EUR 1 million in one year and covering 90% of the Romanian energy market and 70% of the Greek market.

The startup works with its partners on forecasting generation, consumption, network/grid technical and commercial losses and anomalies. Active in the markets of Great Britain, Romania and Greece, it has among its clients top players in the field of energy, including Enel, CEZ, Engie, PPC, DEER, and E.ON.

irina.marica@romania-insider.com

(Photo source: the company)