Climate X raises $5.4 million

Climate X , a London-based climate risk analytics provider, closed a £4.1 million seed funding round, bringing its total funding to $7 million. Investors include A/O Proptech, Blue Impact Ventures, CommerzVentures, Deloitte, and Voyagers.

Founded in 2020, the company offers insights into climate change-related risks and is enabling decision-makers to place climate mitigation and resilience at the heart of their strategy.

The company (which employs around 20 people) works in the space of Jupiter Intelligence, Reask, and Zesty.ai; to list a few.

The news follows insurance companies’ climate risk mitigation measures, such as:

• The work of RMS with specialty insurer Canopius to develop and enhance its climate change risk analysis with the adoption of RMS Climate Change Models.
• The work of Berkshire Hathaway Homestate Companies with ZestyAI to enhance the insurer’s current understanding of climate risk for commercial properties.
• The work of Marsh with Risilience to support clients globally in understanding their climate change risks.

“Accurately quantifying exposure to climate risk is now an economic, statutory, and moral necessity . Without concerted action, extreme weather events have the potential to cost trillions of dollars to the global economy. The built world will bear the brunt of this. Climate X’s platform gives a range of actors across many industries the tools they need to understand, assess, predict and report the exposure of their physical assets to ecological challenges – and in doing so enable them to start planning and investing accordingly to reduce future losses and pain.” – Gregory Dewerpe, founder of A/O PropTech.