Kayrros, € 9 million to improve oil and gas production forecasts

by bold-lichterman

  • Kayrros carries out analyzes to forecast the flow of production, storage or consumption of oil and gas.
  • This second round of funding should allow Kayrros to finance the development and marketing of its products.

The amount

The start-up Kayrros, specializing in predictive analyzes for the energy markets, has completed a round of funding of 9 million euros in Series A led by Index Ventures. Marcel van Poecke, founder and chairman of AtlasInvest, and John Browne, former CEO of BP, also participated in the transaction. On the occasion of this fundraising, John Browne joined the Kayrros advisory board.

The market

Founded in 2016 by Jean-Michel Lasry, Alexandre d’Aspremont, Laurent El Ghaoui, Antoine Halff and Antoine Rostand, Kayrros, Kayrros is based on artificial intelligence, mathematical modeling, quantitative finance and energy technologies to forecast oil and gas production, storage or consumption flows. It therefore provides additional data to the forecasts provided by the International Energy Agency.

The objectives of the Start-up

This second round of funding should allow Kayrros to finance the development and marketing of its products. In this context, the start-up plans to recruit 40 additional employees to strengthen its workforce in Paris, New York and in the San Francisco region.

We intend to continue our development and recruit the most talented profiles in the United States and Europe in order to accomplish our growth plan.», Explains Antoine Rostand, founder and president of Kayrros.

Founders: Jean-Michel Lasry, Alexandre d’Aspremont, Laurent El Ghaoui, Antoine Halff and Antoine Rostand

Launch: 2016

The head office : Paris (offices in New York and Berkeley)

Activity: predictive analytics for energy markets

Funding: 9 million euros in January 2017