Kayrros, a Paris, France-, New York- and Berkeley, California-based provider of a predictive analytics for the energy sector, raised €9M in Series A funding.
The round was led by Index Ventures with participation from 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). In conjunction with the funding, Lord Browne will join the Kayrros Advisory Board, alongside Andrew Gould, Kayrros Advisory Board Chairman, Andre Levy-Lang and Jose Scheinkman.
The company will use the funds to to accelerate the development and commercialization of its information products, and recruit 40 new employees to its sales operations, and add to its development teams in Paris, New York and the Bay Area.
Founded in 2016 by by Jean-Michel Lasry, Alexandre d’Aspremont, Laurent El Ghaoui, Antoine Halff and Antoine Rostand, President, Kayrros combines machine learning, mathematics and quantitative finance with petroleum engineering to provide a predictive analytics platform that brings insights to global oil and gas and energy markets.