Climate X pulls in $18M for expanding climate risk data analytics platform to US market
Description:
In late June 2024, Climate X, a UK-based startup founded in 2020, secured $18 million in Series A funding led by Google Ventures. The company offers a data analytics platform that evaluates climate risks and provides portfolio management recommendations for financial institutions and asset managers. Leveraging physics and AI technologies, Climate X analyzes the return on investment (ROI) of physical assets across 16 different climate hazards. With this recent funding, the startup intends to expand its presence in the US market and further develop operations in Europe and the Asia-Pacific regions. Climate X's mission is to transform the approach to climate risk assessment, promoting profitable growth for banks and investment managers.
Leadership:
Lukky Ahmed - CEO & Co-Founder
Kamil Kluza - COO & Co-Founder
Claire Woodcock - VP of Science & Data
Manuel Vicente - VP of Commercial Strategy
Investors:
Google Ventures (GV) - a venture capital investment arm of Alphabet Inc., founded by Bill Maris, that provides seed, venture, and growth stage funding to technology companies.
Pale blue dot - a venture capital firm specializing in seed-stage climate tech startups. The firm focuses on investing in companies that aim to reduce and reverse the effects of climate change, as well as those helping society adapt to a changing world. Based in Malmö, Sweden, Pale Blue Dot has raised two funds totaling €180 million. The firm invests in early-stage companies across Europe and the United States, supporting innovative solutions to address the climate crisis.
CommerzVentures - a specialist fintech investor with €550m under management. CommerzVentures backs early and growth-stage companies in the fintech, insurtech and Climate FinTech sectors. A returns-driven Europe-first investor, CommerzVentures’ global strategy includes Israel, the USA, and Africa.
Blue Wire Capital - a venture capital firm that supports innovation by backing visionaries who want to change how the world works, primarily at pre-seed and seed.
PT1 - venture capital focusing on pre-seed & seed investments in transformative real asset technologies.
Unconventional Ventures - investing in startups in the pre-seed and seed stage led by diverse founders identifying as women, people of color, immigrants and/or LGBTQ+, building scalable impact tech companies in the Nordics and beyond.
Western Technology Investment (WTI) - venture capital firm that has provided over $6 billion of debt and equity capital to technology and life science companies ranging from early-stage private companies to publicly-traded companies. Investments range from $250 thousand to over $25 million and are structured as fully usable, unrestricted growth capital.
Noa VC (formerly A/O) - building Europe’s largest tech fund dedicated to transforming the built world.
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