Jungle, a Lisbon, Portugal-based artificial intelligence company that develops scalable AI technology to help people improve the operations of their renewable energy sources, announced that it closed a €5 million Series A funding round.
SHIFT Invest led the round, and was joined by Rocks International Group, EDP Ventures, Gorilla Growth Capital, and Future Energy Ventures.
With this funding, the company will be able to accelerate the deployment of its technology in the renewable energy and industrial sectors.
The company will be hiring for 12 positions over the next few months. The funds raised will allow Jungle to strengthen its global team and expand its product offering to a growing number of customers across additional markets and sectors, furthering the company's mission to solve machine underperformance and empower the people who work with it.
Company: Jungle AI
Round: Series A
Funding Month: September 2022
Lead Investors: SHIFT Invest
Additional Investors: Rocks International Group, EDP Ventures, Gorilla Growth Capital, and Future Energy Ventures
Company Website: https://www.jungle.ai/
Software Category: Asset Management Platform
About the Company: Founded in 2017, with the mission to develop the world's most effective tools to resolve machine underperformance. Jungle is an Artificial Intelligence (AI) and Machine Learning company that helps clients improve the performance of electrical assets with tailored AI models. The company’s technology is used by owners and operators of wind farms, solar farms, and manufacturing lines to identify and resolve underperformance, allowing them to improve production. Jungle enables energy and industry leaders to regain control of their increasingly complex asset base. Leveraging existing sensors and data streams, Jungle’s Canopy product can be quickly deployed to apply the world's most powerful AI technology to increase the uptime and performance of electro-mechanical assets. With renewable energy as its first vertical, Jungle is supporting the world’s transition to renewable energy sources. Jungle’s team is predominantly based in Lisbon, Portugal.