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        Norwegian flood intelligence startup 7Analytics has raised EUR 4 million (USD 4.4 million) in a seed funding round led by Scale Capital. This brings the company's total funding to USD 6.8 million.
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        The funding will be used to expand its operations, particularly in the US, with plans to step up in the disaster prediction arena. Part of the funding will also be used to scale up its AI and machine learning algorithms to develop high-precision flood and landslide prediction models.
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        Founded in 2020, 7Analytics uses hydrology, geology, and data science in its AI-driven product suite to create high-precision risk models that can help asset owners and insurers predict climate risks. The company&rsquo;s product suite includes: InzureFlood, FloodCube Realtime,FloodCube Planning, RiskCube, and GeoCube. As of May 2024, the platform is used by more than 40 customers. 
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    <a href="https://thenextweb.com/news/norwegian-startup-7analytics-training-ai-predict-floods">
      Thenextweb
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    <a href="https://www.forbes.com/sites/feliciajackson/2024/05/15/7analytics-raises-4m-to-help-insurers-manage-flood-risk/?sh=61996aa24e3b">
      Forbes
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Climate Risk Analytics

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 <p>The Norwegian startup 7Analytics, which specializes in flood intelligence, has secured EUR 4 million, the equivalent of USD 4.4 million, in a seed funding round. The lead investor was Scale Capital, and this recent cash influx brings the total funding raised by 7Analytics to USD 6.8 million.</p>
 
 <p>7Analytics intends to utilize this funding to broaden its operations, especially focusing on the United States. The company also aims to enhance its presence in the disaster prediction sector. Part of the financing will be allocated towards enhancing its artificial intelligence and machine learning capabilities, with the goal of developing highly precise flood and landslide prediction models.</p>
 
 <p>7Analytics was established in 2020 and employs hydrology, geology, and data science methodologies to its AI-driven product suite. This approach allows them to develop highly accurate risk models that are beneficial for asset owners and insurers to predict climate-related risks. The product suite of the company includes InzureFlood, FloodCube Realtime, FloodCube Planning, RiskCube, and GeoCube. As of May 2024, the platform is being used by over 40 clients.</p>

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7Analytics raises EUR 4 million in seed funding

ANALYST_QUICK_TAKE

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 <p>Parametric insurance provider Arbol has raised USD 60 million in a Series B funding round led by Giant Ventures and Opera Tech Ventures, with contributions from Mubadala Capital. This brings Arbol's funding total to USD 69 million.</p>
 <p>This funding will enhance Arbol's growth in agriculture and renewable energy sectors through products designed for new risks and regions. A portion of the funds will also support global expansion, augmenting investments in property and casualty insurance, as well as the home insurance business in the US and abroad.












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</div> <p><b>Analyst QuickTake:<br>
 </b> This funding round follows the launch of <a href="https:<br>
//sp-edge.com/updates/28756"> Lilypad Insurance </a> , a newly established company catering to the insurance needs of homeowners and property owners located in coastal areas. Lily Insurance also announced the acquisition of Centauri Specialty Insurance Company and Centauri National Insurance Company, to expand Arbol’s market presence and address the growing coverage gap in coastal communities.</p>

Arbol raises USD 60 million in Series B funding to support continued expansion

PROMINENT_CATEGORY

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 <p>An AI-powered property risk analytics provider, ZestyAI, has entered into a partnership with homeowners insurance provider, Florida Peninsula Insurance. This partnership is aimed at enhancing Florida Peninsula's understanding and analysis of property-level risk.</p>
 <p>The deal outlines that Florida Peninsula will utilize ZestyAI's solution, Z-PROPERTY Location Insights. This solution employs advanced machine learning and computer vision to gather property data from various sources.</p>
 <p>The collaboration is expected to improve underwriting accuracy and operational efficiency. Specifically, the use of ZestyAI's platform, which can identify high-risk landscape features without needing site visits, will provide increased transparency for policyholders and reinsurers.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This partnership follows ZestyAI’s collaboration with <a href="https:<br>
//sp-edge.com/updates/24446"> Cytora </a> , a UK-based insurance company, to integrate ZestyAI's solution into Cytora's platform to augment underwriters with climate-related risk data. As a result, Cytora was able to make informed underwriting decisions through a comprehensive assessment of a property's exposure to natural disasters.&nbsp;</p>

ZestyAI partners with Florida Peninsula Insurance to enhance property risk analytics

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 <p>Arbol, a parametric insurance provider, has unveiled a new subsidiary, Lilypad Insurance, catering to insurance needs of homeowners and property owners in coastal regions. The company is set to start operations in Louisiana, validated by a Certificate of Authority received from the Louisiana Department of Insurance. </p>
 <p>To bolster its market position, Lilypad Insurance will acquire Centauri Specialty Insurance Company and Centauri National Insurance Company. This acquisition will magnify Lilypad's market visibility and facilitate the expansion of its services in key markets. Ricardo Espino, previously the CEO and co-founder of Centauri Insurance, has been appointed as the new CEO of Lilypad Insurance.</p> 

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Arbol launches Lilypad Insurance; acquires Centauri Insurance for coastal markets

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 <p>Climavision, a company offering radar-as-a-service solutions, has set up a weather radar in Allen County, Kansas. This system aims to rectify a low-level coverage gap in eastern Kansas and is slated to be operational later in the month in Humboldt.</p>
 <p>This setup in Humboldt is the inaugural of three radars planned for the state and complements several systems already functioning across the US and Midwest. The plan is to have a minimum of 50 radars functioning across the US by the end of 2024, bringing the total network to over 200 radar systems.</p>
 
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Climavision installs weather radar in Kansas

INCUMBENTS_PRESENT

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 <p>Meteomatics, a Switzerland-based weather intelligence company, is partnering with NVIDIA to deliver AI-based real-time weather forecasts within a 90 m radius.</p>
 <p>The two companies plan to conduct pilot programs with three energy companies, ENGIE, Louis Dreyfus Company, and TotalEnergies. The aim is to test the capability to deliver weather forecasts in a matter of minutes instead of hours.</p>
 <p>Meteomatics uses physics-based weather models for hyper-local weather forecasts hours before the actual weather events. The use of NVIDIA's cloud APIs enables Meteomatics to deliver AI-based weather forecasts with a much quicker turnaround time.</p>
 <p>Furthermore, Meteomatics plans to make its AI-powered weather data delivery service available to the broader business community. The initial focus will be on forecasting for renewable energy, plus related insurance and trading sectors.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This collaboration with NVIDIA came after Meteomatics secured an <a href="https:<br>
//sp-edge.com/updates/26263"> undisclosed strategic investment </a> from Lockheed Martin Ventures last month. The funds will be used to scale its high-resolution weather and climate technology, expand into new industries such as energy, aviation, insurance, defense, and government, and enter new markets.</p>

Meteomatics to deliver NVIDIA-powered AI-based weather forecasts

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<p>Jupiter Intelligence, a company specializing in artificial intelligence and machine learning-driven climate risk analysis, has joined forces with Jones Lang LaSalle (JLL), a real estate and investment management corporation listed on the New York Stock Exchange.</p>
<p>JLL will incorporate Jupiter's advanced climate risk analytics into its services. This innovation will strengthen JLL’s capability to design effective decarbonization strategies. It will also ensure compliance with regulations such as the new climate risk disclosure rule by the US Securities and Exchange Commission.</p>
<p>Thanks to this partnership, JLL will be able to offer clients deeper insights into the potential climate-related risks to their properties and investment portfolios. Consequently, it will aid clients in making informed decisions concerning real estate investments, asset management tactics, and risk prevention methods.</p>

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Jupiter Intelligence partners with JLL to deliver AI-powered climate risk analytics

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 <p>AI-based startup Reask, based in Australia, has partnered with AXA Climate, a climate risk insurer, for a windstorm insurance collaboration. The partnership employs Reask's Metryc, a hurricane modeling product, to deliver parametric windstorm insurance solutions. These solutions are based on location and wind speed data following global tropical cyclone landstorms.</p>
 <p>The partnership streamlines insurance claims and enables faster payouts for policyholders. Payments are based on objective weather data, rather than traditional loss evaluations.&nbsp;</p>
 <p>The aim of combining Reask's data analytics with AXA Climate's insurance know-how is to bring more efficient and accessible windstorm risk coverage. This could help policyholders, insurers, and communities at risk from such natural catastrophes.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Reask’s parametric windstorm insurance partnership with AXA Climate follows the company’s collaboration with <a href="https:<br>
//sp-edge.com/updates/19727"> Kettle </a> to develop reinsurance solutions for US hurricanes in June 2023. Reask’s climate data enabled Kettle to calculate insurance premiums accurately and timely by arranging payouts within 24 hours of an event. Kettle also used Reask’s global tropical cyclone model.</p>

Reask partners with AXA Climate for parametric windstorm insurance

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 <p>Swiss-based company, Meteomatics, has received a strategic investment from Lockheed Martin Ventures, with the amount being undisclosed. The funds will be used to develop its weather and climate technology further. The company also aims to branch into new sectors like energy, aviation, insurance, defense, and government, and expand its market reach.</p>
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Meteomatics secures undisclosed strategic investment for new market entry

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 <p>Riskthinking.AI has launched a commercial tool called Climate Digital Twin (CDT), available on the Bloomberg terminal. This Canada-based company's product offers predictive analysis for future climate change impacts on business operations, catering to banks, insurance companies, and multinational corporations. The tool is compatible with existing systems and assures data privacy.</p>
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All Updates

7Analytics raises EUR 4 million in seed funding

Arbol raises USD 60 million in Series B funding to support continued expansion

ZestyAI partners with Florida Peninsula Insurance to enhance property risk analytics

Arbol launches Lilypad Insurance; acquires Centauri Insurance for coastal markets

Climavision installs weather radar in Kansas

Meteomatics to deliver NVIDIA-powered AI-based weather forecasts

Jupiter Intelligence partners with JLL to deliver AI-powered climate risk analytics

Reask partners with AXA Climate for parametric windstorm insurance

Meteomatics secures undisclosed strategic investment for new market entry

Riskthinking.ai releases digital twin for climate risk analysis

Climate Risk Analytics

7Analytics raises EUR 4 million in seed funding

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