Participated · Seed · Jul 2021

Climate X provides a digital-twin platform that models climate risk for residential and commercial properties as well as road, rail and power infrastructure. The platform uses more than 500 trillion data points and a proprietary library of 1.5 billion assets and 44 million miles of infrastructure, with a Google Maps–like interface. Clients can view the effects of weather conditions, including extreme heat and flooding, over a 100-year time horizon and zoom to individual properties. The company already serves financial-services clients including Legal & General, CBRE and Virgin Money and assesses risk for clients with over $6.5 trillion in combined AUM. Founded by corporate risk veterans Lukky Ahmed and Kamil Kluza, Climate X is coming out of stealth. The startup plans to use new funding to expand in Europe, North America and APAC. It recently raised a fresh round of institutional capital to scale product and go-to-market efforts. Climate X's core product, Spectra, is an on-demand climate risk data analytics platform available via an online interface or API that delivers location-specific risk ratings and loss estimates for extreme weather events under multiple warming scenarios. Spectra is presented as a vertically integrated solution covering a comprehensive range of hazard types, achieving up to 95% performance accuracy and providing access to over one trillion data points tied to millions of UK locations. The platform is designed to help firms meet emerging regulatory disclosure requirements and to incorporate climate-related risks into pricing, investment and resilience planning. Climate X emphasizes a transparent ‘glass box’ approach to produce explainable insights for financial institutions and real-estate stakeholders. The company says it will use the new funding to service growing customer demand, expand the product offering and accelerate international expansion. To date Climate X has raised over £5.2M in total funding. Climate X is a London-based purpose-driven startup building climate intelligence data and analytics. The company combines physical risk models, remote sensing, a digital Earth twin and machine learning to project how extreme weather events linked to climate change could impact specific assets or locations up to 80 years into the future and to estimate impacts on asset values. It is building infrastructure to help tens of thousands of companies, governments and individuals assess climate risks and understand the data used to inform investments and business strategies. The solution is being designed to comply with incoming government climate-disclosure mandates and central bank requirements for scenario analysis and stress testing. Climate X was founded earlier this year; leadership highlighted in the article includes co-founder and CPO Kamil Kluza and CEO Lukky Ahmed. The company plans to release its final product to the UK market by the end of 2021 and pursue rapid international expansion in 2022; it has just completed a €1.3M pre-seed fundraising.