BirdsEyeView, a London, UK-based Insurtech startup, raised a Seed funding of undisclosed amount.
The round was led by SFC Capital and European Space Agency.
The company intends to use the funds to grow the team, further develop its tech and match ESA funding.
Led by CEO James Rendell, BirdsEyeView is an insurtech space startup that uses satellite data to structure insurance solutions for severe weather and provide SMEs access to weather-based parametric insurance products.
The company structures weather-based events insurance products using its proprietary algorithmic underwriting engine, RAPTOR™, with the objective of providing SMEs access to weather-based events insurance products. This technology uses meteorological data gathered by the likes of European Space Agency, NASA and this is then processed to structure parametric products (those based on the weather event itself instead of the potential losses of the policyholder).