Yaletown Partners and Neotribe’s Ignite fund also participated in the Four Rivers Group led round. The round also included participation from current investors Radical Ventures, Neotribe Seed Fund, and Academy Investor Network.
ClimateAi has now received $38 million in funding, which follows a Series A round that was oversubscribed in 2021.
The money will expand the team and quicken the company’s entry into new markets, such as Japan and India, low-income countries in the Global South.
Climate change is accelerating swiftly; its effects, which range from altered weather patterns to severe heat waves and catastrophic flooding, are damaging infrastructure, clogging supply networks, decimating food production, and taking lives.
Droughts affecting Spain’s farmlands in the EU, for instance, have caused food shortages and spiking food prices around the continent, endangering the security of one of the highest-income regions in the world.
According to a report by the UN Intergovernmental Panel on Climate Change (IPCC) released in March, “there is a rapidly closing window of opportunity to secure a livable and sustainable future for all.”
ClimateAi’s platform for climate resilience helps businesses and governments reduce their exposure to short- and long-term climate risk across operations, sourcing, supply chain management, risk management, asset diligence, demand planning, sales and marketing, sustainability, and Task Force on Climate-Related Financial Disclosures (TCFD) reporting as the global market for artificial intelligence and climate solutions grows.
Himanshu Gupta, CEO and Co-Founder, “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.”
ClimateAi is using machine learning and AI to address climate change
ClimateAi is a technology business that applies machine learning and AI to address climate change, led by its CEO, Himanshu Gupta. Incorporating AI into climate risk modeling offers long-term insights into weather and climate effect. It aids businesses in obtaining the information they require today to take the necessary actions to prepare for future disruptions and climate change.
ClimateAi combines machine learning-based forecasts and analyses with more conventional climate science and a tremendous quantity of public and private weather and agronomic data to produce precise and useful predictions and advice for making decisions.
“Our platform creates unparalleled climate intelligence, reducing long-term forecast uncertainty by an average of 85 percent relative to best-available alternatives, generating significant alpha to incentivize companies to act now on climate change,” added Himanshu Gupta.
With the help of technology, it is possible to locate new sites for climate-smart expansions of particular crops, commodities, and manufacturing facilities, evaluate the risks associated with an investment portfolio in terms of climate and water, better manage inventory to prevent shortages and anticipate pressure from specific pests and diseases to inform commodity sourcing strategy.
Customers include manufacturers, financial institutions, seed and chemical inputs firms, processors and packers, policymakers, and other stakeholders.
ClimateAi aims to prevent any loss of human life, economic opportunity, or natural resources while working to climate-proof global supply networks and economies.