Riskthinking AI

Riskthinking AI is a software company that offers data, multifactor scenarios, intelligence, and standards solutions.

Canada-based riskthinking.AI algorithmically generates climate risk datasets covering the entire surface of the earth. The company's climate risk data leverages a patented multi-factor scenario generation algorithm that enables users to access historical and forecast model data from 1850 to 2100. Datasets are available to subscribers via an API.

Climate Risk Analytics

riskthinking.AI

Bloomberg

Bloomberg invested in riskthinking.AI. As part of the investment, the two companies entered into a strategic partnership to explore climate financial risk modeling.

Forecasts long-term climate risks (for up to ~50-80 years into the future) by using AI/ ML solutions

Canada-based riskthinking.AI algorithmically generates climate risk datasets covering the entire surface of the earth. The company's climate risk data leverages a patented multi-factor scenario generation algorithm that enables users to access historical and forecast model data from 1850 to 2100. Datasets are available to subscribers via an API.The company’s Climate Risk Data is aligned with the Climate Risk Classification Standard (CRCS), a global standard that codifies climate and macroeconomic drivers, factors, and risks transparently. In addition, the company’s main platform offering includes CLIMATEWISDOM Data Exchange and Climate risk ratings. 1) CLIMATEWISDOM Data Exchange provides customers a central location to access geo-specific climate data. 2) Climate risk ratings are a climate risk score algorithmically generated from the company’s scenario-based climate risk stress test. Riskthinking.AI produces financial risk ratings and follows a bottom-up approach to create estimates of the financial impact caused by climate change.Key customers and partnershipsIn January 2021, riskthinking.AI entered into a strategic collaboration with Black Bean Capital, a private equity firm to set a new standard for pricing climate risk. In November 2021, the company partnered with BNY Mellon to apply its proprietary tools and platform, including CLIMATEWISDOM and CRCS, to facilitate a climate risk analysis for the latter. riskthinking.AI has also partnered with BMO, OS Climate, Shakudo, Planet, SADA, and Pachyderm, among others.Funding and financialsIn April 2022, Bloomberg made an investment in riskthinking.AI. Financial details of the round were not disclosed. The two companies also entered into a strategic partnership to explore climate financial risk modeling. The partnership with Black Bean Capital in January 2021 was also followed by an undisclosed equity investment.

Tomorrow.io (formerly called ClimaCell) is a short-term weather analytics platform, serving businesses across a wide range of industries, including aviation, energy, insurance, on-demand companies, professional sports and venues, and logistics, as well as government agencies globally.The company’s proprietary Weather and Climate Security platform uses machine learning to translate hyperlocal forecasts into actionable insights for business decision-making. The platform aggregates real-time data from existing numerical weather prediction models to provide customized climate risk dashboards and alerts for businesses using AI and machine learning. Tomorrow.io’s key value proposition is its five-day advanced warning on adverse weather.In May 2023, the company launched its first satellite, Tomorrow-R1, the world’s first commercially built weather-radar satellite. Tomorrow.io launched a second satellite (R2) in <a href="https://sp-edge.com/updates/19726">June 2023 </a>. This makes Tomorrow.io the first company to launch precipitation radar-equipped satellites following NASA’s GPM satellite.Key customers and partnershipsTomorrow.io was serving 1,000+ customers as of November 2022, which included some high-profile clients such as Microsoft, Uber Technologies, Ford Motor Company, Delta Airlines, JetBlue Airways, National Grid and the U.S. Air Force.Funding and financialsTomorrow.io’s most recent funding was in <a href="https://sp-edge.com/updates/19726">June 2023 </a>, when it raised USD 87 million in a Series E funding round led by Activate Capital. The funds were used to launch the complete constellation of 20 satellites. In March 2021, Tomorrow.io raised USD 77 million in a Series D funding round led by Stonecourt Capital, to launch more radar-equipped satellites and to improve the company's overall product offering.

Tomorrow.io

Climavision offers an AI-powered radar-as-a-service solution to provide real-time weather prediction models and analytics. Climavision was a spin-off of Enterprise Electronics Corporation (EEC), a weather radar and satellite service provider. The company develops a private network of weather radars and satellites to fill in the coverage gaps across existing National Oceanic and Atmospheric Administration (NOAA) and National Weather Service (NWS) systems. This reportedly allows Climavision to collect additional data points to provide more accurate weather predictions than those solutions that only use legacy weather data.Climavision’s product offering includes Radar-As-A-Service (RaaS), Numerical Weather Prediction with GPS Radio Occultation (RO), and Numerical Weather Prediction with GPS-RO+ Radar. 1) RaaS provides real-time weather data, via Climavision's proprietary sensing network. 2) Numerical Weather Prediction with GPS-RO is a numerical weather prediction model. 3) Numerical Weather Prediction with GPS-RO+ Radar leverages the real-time power of Climavision’s sensing network. In <a href="https://sp-edge.com/updates/21793">September 2023</a>, Climavision installed its weather X-Band weather radar system in Alabama, to fill a low-level coverage gap in the Appalachian Plateau region. &nbsp;In <a href="https://sp-edge.com/updates/30169">June 2024</a>, the company launched a new product suite called Horizon AI to support the renewable energy sector. The suite improves the accuracy and scope of forecasting models by integrating machine learning and AI-based tools.In <a href="https://sp-edge.com/updates/30156">May 2024</a>, Climavision acquired Intersphere, a sub-seasonal to seasonal (S2S) weather forecasting platform (up to a year in advance), to enhance AI-powered weather prediction.&nbsp;Key customers and partnershipsIn June 2022, the company partnered with GE Digital, a provider of machine data to produce analytics and insights, to support the latter’s customers, improve their weather prediction ability, and better plan for severe storm events. Previously, in February 2022, the company added Cargill, a food and agricultural company to its customer portfolio.In June 2021, Climavision also entered into a strategic collaboration with GeoOptics, an Earth remote-sensing provider, to improve its weather forecasting solutions.Funding and financialsClimavision’s most recent funding round was in June 2021, when it raised USD 100 million in a Series A funding round led by The Rise Fund.

Climavision

Jupiter Intelligence provides climate risk analytics solutions across private and public sectors by incorporating AI and machine learning for predictive climate modeling. Jupiter covers a range of natural disasters such as flood, wind, heat, cold, wildfire, drought and water stress, hail, and extreme precipitation.As of November 2022, the company offered its solutions across 30+ companies in the Global 2000, US Department of Defense, and Federal Emergency Management Agency (FEMA). Jupiter serves across 20 sectors including banking, chemicals, insurance, pharmaceuticals, agriculture, and construction and provides customers with access to nearly 150 trillion data fields using cloud-based supercomputing. The company offers its risk analytics solutions via web-based applications, reports, through an API, and consulting engagements.Jupiter’s ClimateScore Intelligence Platform claims to predict natural disasters from one-hour to 50+ years in advance. The company also offers a ClimateScore Planning suite, which includes FloodScore, HeatScore, WindScore, FireScore and ClimateScore Global solutions for climate risk assessment. As of November 2022, Jupiter’s platform was priced at USD 1 million per year and upward.Key customers and partnershipsIn June 2022, the company partnered with Boston Consulting Group (BCG) to incorporate Jupiter’s climate analytics into BCG’s ClimateImpact.AI platform. In August 2022, Jupiter collaborated with Aon, a professional services firm, to address climate change for financial institutions’ balance sheets, identification of climate risks, and quantification of climate-related disclosure regulations. In January 2023, the company partnered with <a href="https://sp-edge.com/updates/15706">FORVIS </a>, an accounting and advisory company, to develop a climate risk modeling tool. In March 2024, Jupiter entered into a strategic agreement with <a href="https://sp-edge.com/updates/27657">Jones Lang LaSalle (JLL) </a>, an NYSE-listed real estate and investment management company, to provide AI-powered climate risk analytics for properties and portfolios. Jupiter’s customers include Hawaiian Electric, Zurich, conEdison, bp, Liberty Mutual, QBE, MS&amp;AS Insurance, Terna, Bephila, New York City, City of Miami, NASA, and US Department of Housing and Urban Development.Funding and financialsJupiter’s most recent funding was in October 2021, when it raised USD 54 million in a Series C funding round co-led by Clearvision Ventures and MPower Partners. The proceeds were to be used to expand sales, support customer demand, and scale up its R&amp;D activities.

Jupiter Intelligence

ClimateAi provides climate risk modeling solutions across global supply chains. The company states that its digital platform monitors short-term, seasonal, and long-term climate risks, ranging from one day to 50+ years into the future. ClimateAi’s proprietary AI modeling platform optimizes supply chain operations from production planning, demand estimation, and inventory management to ensure minimum climate disruption across supply chains. The company also launched its Enterprise Climate Planning (ECP) platform, to quantify climate impacts and provide business-specific insights in order to mitigate climate risks across supply chains.Key customers and partnershipsAs of November 2022, the company was working with 20+ food and agricultural companies across 35 countries.Funding and financialsClimateAi’s most recent funding was in April 2023, when it raised <a href="https://sp-edge.com/updates/17753">USD 22 million </a>in a Series B funding round led by Four Rivers Group. Previously in July 2021, the company raised USD 12 million in a Series A funding round led by Radical Ventures. The proceeds were utilized to expand its platform offering from existing food and agricultural companies to other industry supply chains. Part of the funds were also used to expand the company’s geographical footprint across India and Japan.

ClimateAi

Floodbase (formerly Cloud to street (C2S)) is a flood intelligence platform powered by satellites, machine learning, and on-the-ground observation data to track flood-events in real time. The company’s proprietary satellite imagery, historical data, and flood modeling provide governments and insurance companies with precise data to monitor people and assets at risk, identify blocked roads, and measure property and agricultural damage. The company utilizes 15 satellites to gather flood data.Floodbase also offers a Global Flood Database, a free and an open-sourced platform, which has mapped nearly 913 flood events across 169 countries globally as of November 2022.Key customers and partnershipsFloodbase supported 28 governments and institutions as of November 2022. The company’s customers include WillisRe, an insurance subsidiary of Willis Towers Watson. WillisRe adopted C2S’s platform to optimize its actuarial models in markets like Indonesia.In June 2022, the company partnered with two parametric insurance platforms, Raincoat and Munich Re Group, to deploy the world’s first parametric flood insurance program. Since then, Raincoat has leveraged Floodbase’s flood data to develop a platform that allows payouts to insured farmers within days of a disaster. In October 2023, the company partnered with <a href="https://sp-edge.com/updates?industryIds=124">Ag Guard </a>to provide parametric flood insurance programs for farmers and governments in Australia and New Zealand in 2024. In December 2023, Floodbase collaborated with <a href="https://sp-edge.com/updates/24786">Oneglobal </a>, a UK-based insurance broker, to provide flood insurance solutions for the Asian market. In January 2024, the company partnered with <a href="https://sp-edge.com/updates/25834">Capella Space</a>,, a space tech firm, to leverage high-resolution satellite data for parametric insurance payouts. In August 2024, Floodbase partnered with <a href="https://sp-edge.com/updates/32691">Amwins</a>, a specialty insurance distributor, to launch the Tees-to-Green flood insurance program for US golf courses.Funding and financialsThe company’s most recent funding was in January 2023, when it raised USD 12 million in a Series A funding round led by Lowercarbon Capital, alongside participation from Collaborative Fund, Floating Point, and Vidavo.

Floodbase

Forecasts weather for up to 14 days by using AI/ ML solutions

Forecasts weather for up to 14 days by using other next-generation solutions

Forecasts long-term climate risks (for up to ~50-80 years into the future) by using other next-generation solutions

Provides long-term climate risk analytics to cover the gap in traditional insurance products

Provides climate risk scores for third-parties

Uses AI/ML tools to forecast climate risks for up to ~50–80 years

Provides tools to identify future hazards to protect industries like agri and insurance

PROMINENT_CATEGORY

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 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.
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