Mitiga Solutions, a Barcelona, Spain-based climate-tech company, raised €13.25M in Series A funding.
The round was led by Kibo Ventures alongside Microsoft Climate Innovation Fund, Nationwide Ventures, Faber Ventures, and CREAS Impacto.
The company intends to use the funds to expand its science and business team worldwide, and invest in its cloud architecture and security, scaling the use of its physics-based models to help prevent natural hazards from becoming disasters.
Led by Dr. Alejandro Martí, CEO, Mitiga applies science and technology to improve prevention, resilience and adaptive capacity to climate-related hazards using AI and high-performance computing. The solution provides insurance, real estate, energy, and financial companies with the tools to assess, measure and report climate hazard-associated risks.
Customers include insurance companies like Howden Group, international bodies EUROCONTROL and UNDP, and the non-profit Danish Red Cross.
The company which was officially founded in 2018 as a spin-off of the National Supercomputing Center in Barcelona, has a team currently includes 30 employees. In 2020, Mitiga Solutions joined Microsoft’s Startup Program and continued with the Founder’s and Fast-Track programs the following year. The company became a Microsoft ISV Co-Sell partner in 2022.
FinSMEs
18/05/2023