- ClimateAi, a risk modeling startup, just raised a $12 million Series A led by Radical Ventures.
- It’s focused on supply chains in the food and ag space, with plans to expand to other industries.
- Here’s the 15-page pitch deck ClimateAi used to raise its Series A.
As the climate crisis continues to upend the global economy, companies are feeling the heat. Global supply chains are under threat, and firms are increasingly looking to technology-based solutions to help them assess and pre-empt risks to their business models.
San Francisco, CA-based ClimateAi, which announced on July 21 that it raised $12 million in Series A funding, uses artificial intelligence to help companies model climate risk. Radical Ventures led the Series A round, which included new investors Finistere Ventures and Robert Downey Jr.’s FootPrint Coalition Ventures and existing investors like AMECloud and Neotribe.
A host of angel investors also participated in the round, including Lyft’s former chief strategy officer Raj Kapoor and sustainable infrastructure fund manager Dave Chen of Equilibrium.
The news comes as investors look for data companies that can provide robust information about environmental factors affecting the businesses in their portfolios. Underestimating climate risk has proven costly for large companies like ExxonMobil, which has been the target of a number of climate-related lawsuits.
In conjunction with the fundraise, ClimateAi announced it had launched an enterprise climate planning platform to enable companies to understand and quantify these risks. ClimateAi’s technologies help companies forecast potential supply chain disruptions with the goal of standardizing the climate risk assessment process.
Founded in 2017 by Indian climate scientist Himanshu Gupta and Ecuadorian agriculture entrepreneur Max Evans, ClimateAi has raised $16 million to date. While its solutions are currently tailored to clients in the food and agriculture space, the company “plans to expand its platform to support solutions across other industry supply chains,” per its press release.
Here is the 15-page pitch deck this climate AI startup used to raise the $12 million round. The firm redacted financials and other details before providing the deck to Insider.
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