Dutch artificial intelligence company Jungle has raised €5 million in funding to accelerate the deployment of its technology in the renewable energy and industrial sectors.
The funding will enable the startup to expand its product offering across additional markets and sectors to resolve machine underperformance.
The Series A round was led by SHIFT Invest and backed by Rocks International Group, EDP Ventures, Gorilla Growth Capital, and Future Energy Ventures.
Founded in 2016 by Arnoud Kamerbeek, Alexander Helmer, and Silvio Rodrigues, Jungle aims to develop effective tools to resolve machine underperformance.
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.
This enables the already installed wind turbines and solar panels to increase their electricity generation in the renewables sector.
Jungle’s AI product Canopy allows customers to significantly increase the availability, output, and lifetime of their assets.
Jungle also offers inter- and intraday power forecasting tailored to the specifics of the wind- and solar farms of its customers.
Arnoud Kamerbeek, CEO of Jungle said: “We have been able to expand to a much larger customer base over the past year.
With this funding, we will further strengthen our team to support scaling on a global basis.”
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