Mar 5, 2019 - Energy & Environment
Climate change data startup raises $23 million
Jupiter Intelligence, a startup that sells climate change impact data to governments and private industry in order to assess the risks of subsequent severe weather, raised $23 million in Series B funding led by Energize Ventures.
Why it matters: Our failure to effectively mitigate climate change means that we now must deal with its consequences. Those consequences include increased chances of natural disasters.
Jupiter's other investors: SystemIQ, DCVC, Ignition Partners, MS&AD Ventures and insurers QBE and Nephila.
The bottom line, per Axios science editor Andrew Freedman:
"Jupiter has aggressively hired top talent from government climate labs, both for its executive ranks and at the staff level, and is especially well-positioned to tackle systemic risk for the insurance sector. It's no accident that insurance companies, especially the major reinsurers, have been advocating for climate action long before many politicians did; they're afraid of sinking under a rising tide of natural disaster costs."