Databourg, a Luxembourg-based environmental data analytic startup, raised $1M in Seed funding.
The round was led by Asian Development Bank (ADB) Ventures.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Ahmad Gharanjik and CTO Julian Krebs, Databourg is an environmental data analytics startup. Originating as a spin-off from the University of Luxembourg, the company has developed a novel method for weather monitoring by repurposing telecommunication infrastructure and harnessing the power of AI combined with earth observation data.
Commenting on the news, Ahmad Gharanjik said: “Joining hands with ADB Ventures is truly thrilling for us. This partnership empowers us to strengthen our commitment to help vulnerable regions and communities become more resilient to climate change. Thanks to ADB’s vast presence and influence in Asia, we see a unique chance to expand our operations in this crucial region.”
FinSMEs
01/12/2023