A climate intelligence platform for听enterprises and governments听has raised 拢21 million Series A funding.听
Draper Esprit led the round into听London-headquartered听Cervest,听supported by current investors听Astanor听Ventures,听Lowercarbon听Capital and Future Positive Capital as well as new investors UNTITLED, the venture fund of Magnus听Rausing, and TIME Ventures, the venture fund of Marc Benioff.听
Cervest听will use the financing to move aggressively into the U.S. and European markets. Through its freemium model,听Cervest听is providing open access to Climate Intelligence by offering everyone a free, standardised climate risk assessment, spurring new conversations, and fostering an open and common dialogue on shared asset-level risk and opportunities.听
Cervest听has developed a first-of-its-kind automated听climate听intelligence platform, powered by the company鈥檚听groundbreaking听earth听science AI technology. Built through extensive, peer-reviewed research over the last five years, the platform combines public and private data sources, machine learning, and cutting-edge statistical science to present a unified view of climate risk.听
EarthScan, the first product on the platform, gives enterprises and governments on-demand access to current, historical, and predictive views of how combined risks such as flooding, droughts, and extreme temperatures can impact the assets they own or manage.听
Iggy Bassi, Founder and CEO of听Cervest, said:听鈥淐limate听intelligence is business听intelligence for managing climate risk. Climate volatility has thrown us into a new era where听climate听intelligence needs to be integrated into all decisions.听听
鈥�Organisations that fail to do so risk being blindsided by climate events such as the recent floods and fires in Australia, the droughts in Europe, and the winter freeze in Texas. By using听EarthScan听to baseline, monitor, and forecast risk, organisations can take action to protect their assets and navigate toward a more resilient future.听
鈥淢uch of the spotlight is on decarbonisation today. While this is听absolutely necessary, it is not sufficient to build asset-level resilience.听听
鈥�To succeed, we need a complete and unified view of climate risk, simultaneously considering the impact of accelerating physical risks, alongside decarbonisation investments and adjacent transition risks as we build a low carbon economy.听听
鈥�This is exactly what听Cervest听will do, enabling everyone to become climate intelligent by making fully informed climate decisions.鈥�听
Vinoth Jayakumar, Partner at Draper Esprit, said:听鈥淐limate听tech has grabbed a lot of attention recently, with good reason. But solutions come from understanding the problem 鈥撎�climate听intelligence is a new $40 billion market category which seeks to provide us with answers.听听
鈥�Cervest’s听pioneering approach to quantifying risk, in a way that was听never before听possible, means we can better understand the economics of the problem and bring real-world market solutions to bear.听听
鈥�We believe Iggy and the team’s deep science approach will provide the foundations of the听climate听intelligence market.鈥�听