Irish AI R&D project Oghma bags €500,000 in Berlin spin-out contest

Irish AI research and development project Oghma secured a €500,000 investment prize after advancing to the final stage of the Stage Two pan-European spin-out competition in Berlin. The award was presented by German venture capital fund Caesar, which focuses on funding deep-tech, green-tech, health-tech, and fintech enterprises. Oghma’s AI platform aids scientific research and development by converting unstructured and disorganized data into usable information swiftly.

Its aim is to tackle knowledge gaps caused by such data, enhancing modelling capabilities and cutting costs for sectors like chemicals, pharmaceuticals, chips, and manufacturing. Co-founded by Trinity College Dublin (TCD) professor Stefano Sanvito, Oghma boasts three decades of experience in materials modelling, electronic structure theory, quantum transport, and machine learning for materials discovery.

The technology has been validated by major global companies, such as BASF and APC, which reported a 330-fold productivity increase. Oghma is currently in the final stages of a Commercialisation Fund award from Enterprise Ireland and is poised to transition into a commercial business. The project’s mission is to unlock fragmented R&D data, construct predictive models, and expedite development times, reduce R&D expenses, and facilitate the discovery and optimization of next-generation materials and chemicals.