
Index Ventures leads €9m round for Kayrros
Index Ventures has led a €9m series-A round for Kayrros, a group specialising in predictive analytics for the energy sector.
Index Ventures was joined by Dutch private investor Marcel van Poecke, managing director of Carlyle International Energy Partners and chairman of AtlasInvest, a private holding company investing in the energy sector. Other private energy industry investors completed the round.
A number of additions will be made to the company’s advisory board as part of the deal.
In February last year, Index Ventures announced it had held a final close on $550m for its eighth early-stage fund after only two months on the road. The fund’s previous generation, Index Ventures VII, had closed on €400m two years before.
Index Ventures VIII prioritises seed and series-A investments, looking to acquire stakes in the 20-25% region in early-stage technology companies. Targeted segments notably include mobile consumer, enterprise, networks and financial services, unquote” reported at the time.
With Index’s support, Kayrros will expand its sales operations and add to its development teams, the GP said in a statement. Forty new employees are expected to join the group’s teams in Paris, New York and California.
Company
Founded in 2016 in Paris, New York and Berkeley, California, Kayrros provides predictive analytics for the energy sector. The group develops products combining machine learning, advanced mathematics and quantitative finance with petroleum engineering. Kayrros’s technology is therefore able to predicts oil & gas consumption, production and storage.
The company’s stated goal is to contribute to the improvement of investment decisions for a cheaper, cleaner and more sustainable energy mix globally.
People
Index Ventures – Dominique Vidal (partner).
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