Big players line up to invest in Climate X platform

Deloitte and A/O PropTech are among a group of big names investing in a £4.1m seed funding round for Climate X, a London-based climate risk analytics provider. The round, led by A/O PropTech, also saw VCs CommerzVentures, Voyagers Climate Tech Fund and Blue Impact Ventures, invest in Climate X. Angel investors include David Rowan, founding editor-in-chief at Wired, and Renaud Visage, co-founder of Eventbrite. Climate X operates an on-demand climate risk data software-as-a-service platform which can produce location and asset-specific risk ratings and analytics based on the impact of extreme weather events. It covers a “comprehensive range of climate-related hazard types with up to 95% performance accuracy, designed to help enable climate-resilient businesses and safeguard communities”. Gregory Dewerpe (pictured), founder of A/O PropTech, said: “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.” Paul Morgenthaler, managing partner at CommerzVentures, added: “Climate X is a standout example of a climate fintech that is solving a multi-trillion-dollar problem. This team has produced a vital tool capable of delivering insights into climate change-related risks for global real estate. “They’re enabling decision-makers to place climate mitigation and resilience at the heart of their strategy, delivering the visibility that is essential to creating a sustainable business model. We look forward to working with the team as they accelerate their platform’s expansion internationally.”   To send feedback, e-mail emily.wright@eg.co.uk or tweet @EmilyW_9 or @EGPropertyNews Photo © Leon Foggitt