Climate risk intelligence company Climate X has raised $18M to accelerate its global expansion and help the world’s leading financial organisations price the impact of climate change across their physical asset portfolios.
GV (Google Ventures) led the Series A investment round, supported by Pale blue dot, CommerzVentures, A/O, Blue Wire Capital, PT1, Unconventional Ventures and Western Technology Investment (WTI).
UK-headquartered Climate X offers proprietary financial insights into the likely impact of climate risks on physical asset valuations, from residential and commercial properties to road, rail and power infrastructure.Climate X’s data analytics platform is trusted by leading financial institutions and asset managers—including Legal & General, CBRE, Virgin Money, and Federated Hermes – to enable smarter investment and portfolio management decisions, against a backdrop of tightening regulations regarding capital requirements related to climate risk exposure.
Climate X was co-founded by CEO Lukky Ahmed and COO Kamil Kluza, who have over 30 years of combined corporate risk management experience. Lukky has led stress testing and risk transformation programmes for organisations like HSBC Bank and Lloyds Banking Group, while Kamil has modelled risk for organisations such as Barclays, MUFG, and Accenture and was involved in designing the first-ever tranche of coco bonds. Recognising an unmet need for more defensible and scalable climate risk modelling in financial services, the duo set about building the technology behind Climate X.
Lukky Ahmed commented: “In just over one year since going to market, Climate X has become one of the world’s fastest growing providers of physical climate risk data and analytics, driving value for global financial services clients with over $6.5 trillion in combined AUM.
“Assessing the impact of physical climate risk on asset valuations and business operations is now a necessity, not a nice-to-have.”
This week we tracked more than 50 tech funding deals worth over €266 million, and over 10 exits, M&A transactions, rumours, and related news stories a
August was the slowest month YTD, with over €1.9 billion raised in some 203 deals. This figure represents a decrease of around 60 per cent compared to the pr
German fitness startup 7NXT, owner and operator of Gymondo and 7Mind, is acquiring Buddyfit. Founded in 2019 and headquartered in Genoa, Buddyfit offers online
Reonic, a climate tech SaaS startup focused on enabling the deployment of sustainable energy solutions across Europe, today announces that it has raised a €1