Sofia Angels Ventures has invested €3 million in Ogre AI, an energy tech startup specializing in AI-driven forecasting solutions for the renewable energy sector.

Target Company Information

Sofia Angels Ventures (SAV), a €13 million venture fund based in Sofia and supported by the European Investment Fund (EIF), recently made an investment in Ogre AI, an emerging energy technology startup. Ogre AI specializes in artificial intelligence (AI)-driven forecasting solutions tailored for the energy sector, contributing to more efficient management of renewable energy sources and demand fluctuations. With this financial backing, SAV aims to elevate Ogre AI’s capabilities and market reach.

The investment in Ogre AI forms part of a €3 million funding round, which was led by VERBUND X Ventures and included contributions from Early Game Ventures, MMC Greater London Fund, and Soulmates Ventures. Known for its innovative approach, Ogre AI offers a proprietary forecasting system that integrates machine learning algorithms to predict energy generation from renewable sources like solar and wind, optimizing operational efficiency for energy providers.

Industry Overview

The energy sector, particularly in Europe, is undergoing significant transformation due to the increasing incorporation of renewable energy sources. As countries aim to reduce carbon emissions and transition to sustainable