ClimateAi, an AI/ML climate risk modeling platform for global supply chains, raised USD 22 million in a Series B funding round led by Four Rivers Group. 

The proceeds of the round will be used to expand the company’s geographical footprint across India and Japan, as well as low-income regions covering the global south. Part of the funds will also be utilized for team expansion and development for its Enterprise Climate Planning (ECP) platform. 

New investors Neotribe’s Ignite Fund and Yaletown Partners also participated in the funding round, alongside existing investors Radical Ventures, Neotribe Seed Fund, and Academy Investor Network. 

Analyst QuickTake : The new round follows the company’s Series A funding in July 2021, where ClimateAi raised USD 12 million led by Radical Ventures. This brings the company’s total funding to USD 38.2 million. Over the past few months, ClimateAi has grown its annual recurring revenue by 5x, and 4x in terms of its number of customers including major companies such as Dole, Driscoll’s, Advanta Seeds, and Nuveen Natural Capital, among 25+ others.