Climate X, a pioneering climate risk intelligence company based in London, UK, has successfully raised a noteworthy $18 million (£14.2 million) in funding to bolster its global expansion efforts and empower leading financial organizations to better assess the impact of climate change on their physical asset portfolios. This strategic financial infusion will allow the company to enhance its innovative data analytics platform, which seeks to project and price climate risks across various infrastructure types, including both residential and commercial properties. The Series A funding round was spearheaded by GV (Google Ventures) and included participation from several reputable investors, such as Pale Blue Dot, CommerzVentures, A/O, Blue Wire Capital, PT1, Unconventional Ventures, and Western Technology Investment (WTI).
Founded by CEO Lukky Ahmed and COO Kamil Kluza, both of whom boast extensive experience in corporate risk management, Climate X has developed a unique risk assessment model that integrates advanced technologies such as AI, physics, and a digital twin of the Earth.
Their platform leverages an astounding 500 trillion data points, alongside a proprietary library containing 1.5 billion individual assets and over 44 million miles of infrastructure. This cutting-edge approach provides essential insights for financial institutions and asset managers, including prominent names like Legal & General, CBRE, Virgin Money, and Federated Hermes, allowing them to navigate the complexities of climate risk exposure and compliance with evolving regulatory standards.
Looking ahead, Climate X is poised to capitalize on the burgeoning $2 trillion climate adaptation market, where the urgency for accurate climate risk modeling is more pronounced than ever. As the company sets its sights on expanding its presence in Europe, North America, and the Asia-Pacific region, it will initially focus on strengthening its commercial team in a newly opened office in New York to address the growing demand from major financial institutions and investment firms. With the support from its seasoned team and advisors, Climate X aims to redefine the landscape of climate risk assessment by providing robust, data-driven solutions that not only comply with mandatory climate risk disclosures but also deliver immediate business value, thereby solidifying its place as a leader in this critical sector.
# | Investor | Sector | Stage | Activity | Team | Connect |
---|---|---|---|---|---|---|
1 | ![]() Pale Blue Dot | investment(s) investment(s) | more info | |||
2 | ![]() CommerzVentures | 2 investment(s) investment(s) | 14 contacts contacts | |||
3 | ![]() Blue Wire Capital | 1 investment(s) investment(s) | 4 contacts contacts | |||
4 | ![]() PT1 | 1 investment(s) investment(s) | more info | |||
5 | ![]() Unconventional Ventures | 1 investment(s) investment(s) | more info |
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