Cervest, a London, UK-based real-time, climate forecasting platform, closes £3.7m in pre-Series A funding.
The round was led by Future Positive Capital, with participation from Astanor Ventures.
The company will use the funds to grow the business by hiring outstanding talent, securing new customers and continuing to generate proprietary data assets.
Led by Iggy Bassi, Founder & CEO, Cervest provides a platform capable of forecasting how Earth’s climate is impacting businesses, national security and the wider society in real-time.
The company leverages AI capable of analyzing billions of data points to forecast how changes in the climate will impact the future of entire countries right down to individual landscapes, anywhere in the world, to allow businesses, governments and land managers to adapt to climatic and extreme events.
Using its research-led machine learning, Cervest streams a variety of ‘signals’ that predict and quantify climate impacts on land-based processes and assets.
A beta version of the platform is due to launch in Q1 2020 and will be designed with risk practitioners in the financial, insurance, government and CPG sectors, working across disclosure, supply planning, investment, sustainability and policy, in mind.
The company is initially focusing on European markets.