OriGen AI raises $1 million in seed funding
Software technology company OriGen AI has raised $1 million in seed financing.
Its AI platform is "transforming oil and gas exploration and production" through physics-informed deep learning developed around algorithms and data analysis techniques.
Wisdom LLP, the Silicon Valley and Boston-based early-stage venture capital fund, led the financing.
Wisdom co-founder and managing director Patricia Hume has joined the OriGen AI board of directors and will contribute to the company’s growth through her several years of experience in hi-tech executive management roles, especially sales and marketing.
“We’re excited to have Wisdom LLP on our team,” said Ruben Rodriguez Torrado, OriGen AI’s founder and CEO. “I’ve worked closely with the Wisdom team over the past several months through the Creative Destruction Lab (CDL) startup accelerator, and we’ve already experienced the benefits of the experience and network Patricia and Wisdom co-founder Gary Griffiths can provide as we expand of customer base and our product.”
“Ruben and his small team have already made significant progress in the vastly complicated but extremely rich field of oil reservoir simulation, having secured six-figure contracts with major global energy companies,” said Hume.
“Wisdom is delighted to lead this financing, and we look forward to working with Ruben and his team to broaden sales in this area while exploring new applications for this leading-edge AI/ML technology.”
The company will use the proceeds of this financing to build a sales team and expand the operations of the company to Madrid, where core engineering and development will reside.