Mitiga Solutions, a Barcelona, Spain-based climate-tech company specializing in science-based risk modeling, raised €13.25 million in a Series A funding round, solidifying its position as a market leader in science-based risk modeling.
The round was led by Kibo Ventures, with Microsoft Climate Innovation Fund, Nationwide Ventures, Faber Ventures, and CREAS Impacto also participating.
The funding will also support the expansion of its physics-based models, which aim to prevent natural hazards from escalating into disasters.
The company's focus lies in preventing natural hazards from escalating into disasters, and it plans to expand its physics-based models to achieve this goal. By combining AI and high-performance computing, Mitiga Solutions enhances prevention, resilience, and adaptive capacity to climate-related hazards.
“We’re on a mission to prevent natural hazards from becoming disasters and push the boundaries of how risks are managed and mitigated. But most importantly, we want to make the world a more resilient and safer place under a changing climate,” Dr. Alejandro Martí, CEO and Co-Founder of Mitiga Solutions, said.
With its recent funding and dedication to advancing climate risk modeling, Mitiga Solutions aims to make the world a more resilient and safer place in the face of a changing climate.
Company: Mitiga Solutions SL
Raised: €13.25M
Round: Series A
Funding Month: May 2023
Lead Investors: Kibo Ventures
Additional Investors: Microsoft Climate Innovation Fund, Nationwide Ventures, Faber Ventures, and CREAS Impacto
Company Website: https://www.mitigasolutions.com/
Software Category: Risk Management
About the Company: Founded in 2018 as a spin-off of the National Supercomputing Center in Barcelona, Mitiga Solutions is a climate-tech company that developed a risk management platform designed to help organizations mitigate hazards with science, technology, and risk analytics. Mitiga Solutions combines AI and high-performance computing (HPC) to enhance prevention, resilience, and adaptive capacity to climate-related hazards. The company's platform helps in evaluating and managing volcanic hazards through the use of supercomputers for the aviation industry, engine manufacturers, insurance, and reinsurance sectors, enabling clients to manage their risks and make their decision-making more accurate, reliable, and timely.
Source: https://www.reinsurancene.ws/mitiga-solutions-secures-e13-25-million-series-a-funding-to-pioneer-ai-driven-climate-risk-modeling/