Kayrros Predicts Oil And Gas Consumption
It’s like Weather Forecast but for Oil and Gas !
What is Kayrros?
Do you ever wonder how everyone even small rural villages and town of various get access to the required amount of gasoline and petrol. There may be some amazing logistic calculation behind this and in combination various major hubs and deliveries but also don’t fail to notice that somehow no countries runs out of oil and gas. Almost every day, the whole world consumes about 95 million barrels of oil but yet you can find in any tiny shop at any local village oil for you. That’s what Kayrros will help us do it.
The startup will help in predicting about oil and gas consumption, production and storage. It is similar to weather forecast but will predict about oil and gas. It has raised now $9.6 million (€9 million) from Index Ventures, John Browne and Marcel van Poecke too.
What are the future plans of startup?
As of now, Kayrros is testing their product with their beta testing clients and the company plans to hire 40 more employees. It will be little bit tough as they need lot of data scientist and various artificial intelligence engineers to build successful models.
The startup collects lots of data to predict oil and gas consumption that includes road traffic, customs data, pipeline and oil tanker information, satellite images and social network data. To implement a best prediction models, the company is going to need as much as data possible.
The best thing is energy market is always profitable market. Oil and gas companies are largest player in the world moreover various financial traders focus on oil and gas itself. They need as much data on hand so that they can make right decisions on logistics, infrastructure, finances profit and much more. If everything goes right, the startup could be ending with some pretty expensive contracts.
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