ClimateAi, a San Francisco, CA-based technology company that provides enterprise climate resilience platform, closed a $22 million Series B funding round, bringing ClimateAi’s total funding to date to $38 million.
The round was led by Four Rivers Group, with participation from Neotribe’s Ignite fund and Yaletown Partners. Existing investors, Radical Ventures, Neotribe Seed Fund, and Academy Investor Network, also participated in the round.
ClimateAi plans to use the funds to accelerate its expansion into new regions, such as India and Japan, as well as low-income countries in the Global South, where climate adaptation is crucial. Moreover, the funding will aid in expanding the team and continuing its legacy of breakthroughs in artificial intelligence.
The company's climate resilience platform can assist companies and governments in minimizing their exposure to near- and long-term climate risks in various areas such as operations, sourcing and supply chain, risk management, asset diligence & portfolio management, demand planning, sales and marketing, and sustainability and TCFD reporting.
Customers of ClimateAi's platform include a wide range of industries, from seed and chemical input companies to processors and packers, financial institutions, manufacturers, policymakers, and other stakeholders who can benefit from its actionable insights. Himanshu Gupta, CEO, and Co-Founder said of the funding news: “As the IPCC’s report released last month highlights, we need swift and drastic action to tackle climate change — but even with it, we are locked into at least twenty years of climate change’s impacts, so adaptation measures are urgent and necessary to prevent the worst impacts. Our platform creates unparalleled climate intelligence, reducing long-term forecast uncertainty by an average 85% relative to best-available alternatives, generating significant alpha to incentivize companies to act now on climate change.”
Company: ClimateAi, Inc.
Raised: $22.0M
Round: Series B
Funding Month: April 2023
Lead Investors: Four Rivers Group
Additional Investors: Neotribe’s Ignite fund and Yaletown Partners, Radical Ventures, Neotribe Seed Fund, and Academy Investor Network
Company Website: https://climate.ai/
Software Category: Climate Resilience Platform
About the Company: ClimateAi is a technology company that uses machine learning and AI to address climate change. Its platform combines advanced analytics with data from multiple sources to generate actionable insights for policymakers, businesses, and other stakeholders to help build resilience against the effects of climate change.ClimateAi leverages advanced AI technologies to provide valuable weather, climate, and water insights to businesses, with data obtained from multiple sources. ClimateAi has rapidly grown annual recurring revenue with an increase in customers, including the likes of Dole, Driscoll’s, and Nuveen Natural Capital. The company was also selected as TIME Best Invention of the Year for 2022 in the sustainability category and awarded Agri-Investor’s Global Innovation of the Year in 2022. Customers of ClimateAi's platform include a wide range of industries, from seed and chemicals inputs companies to processors and packers, financial institutions, manufacturers, policymakers, and other stakeholders who can benefit from its actionable insights.
Source: https://www.globenewswire.com/news-release/2023/04/13/2646340/0/en/ClimateAi-Raises-22-Million-in-Series-B-Funding-to-Advance-Global-Climate-Change-Adaptation-Efforts.html