Parag Khanna, Founder & CEO of Climate Alpha
Climate Alpha, a Singapore-based artificial intelligence (AI)-driven analytics platform for the real estate, asset management and insurance industries, has announced closing a US$5 million seed funding round.
Jungle Ventures led the round as part of its newly launched First Cheque@Jungle bespoke programme for seasoned operators or second-time founders.
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Founded in 2022 by Parag Khanna, Climate Alpha fuses data science, climate modelling and finance to promote sustainable investment. The company uses geographic information system (GIS) data and economic modelling to deliver a solution for navigating accelerating climate volatility and forecasting the financial impact of climate risks.
Climate Alpha distinguishes itself from other climate tech companies tracking and mitigating greenhouse gas emissions by offering data-driven roadmaps to construct more resilient portfolios.
In the months ahead, the startup plans to accelerate the deployment of its global resilience scoring and financial impact calculations. It also aims to work with asset managers to establish a global fund to invest in climate-resilient real estate while distributing data to customers via API and Snowflake to enhance accessibility and usability. Asia will also become more central to the business, given the region’s dual role as a driver of climate change and a hotspot for climate-related risks.
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“We plan to raise a Series A round in H1 2024 to pursue our ambitious agenda to leverage satellite and other proprietary geospatial datasets, build a comprehensive global resilience index and expand our offerings to investors in public markets,” said CEO Khanna.
Launched last month, First Cheque@Jungle is a pre-seed/seed investing strategy to back domain operators at the earliest stages where the key partners of Jungle work 1-to-1 with founders from idea to IPO. Its portfolio includes Kredivo, Moglix, Pomelo, Livspace, Builder.ai, and Sociolla.
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Image Credit: Climate Alpha.
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