Sep 14, 2021 - Energy & Climate

Climate risk firm Jupiter Intel announces financing and expansion

Andrew Freedman

Animated illustration of a thermometer in the shape of a dollar bill sign, with temperature rising rapidly — Illustration: Annelise Capossela/Axios

Jupiter Intelligence, an extreme weather and climate risk management firm, announced Tuesday it is picking up a major new Japanese investor, venture capital fund MPower Partners, to jump-start an Asian expansion.

The big picture: The total investment is not yet disclosed, but Jupiter’s co-founder and CEO, Rich Sorkin, told Axios it is "substantially more" than the total investments used to build up Jupiter so far, which puts it above $40 million.

Details: The venture investor is Japan’s first ESG-focused global VC firm, and according to Jupiter's press release, the first female-led VC firm in Japan. Along with Clearvision Ventures, MPower is leading a new funding round in Jupiter that will be announced in the coming weeks, the company stated.

Jupiter, which has already been doing business in Japan, will be opening a regional office there.

Context: Jupiter is also seeking to deepen its work with MS&AD Insurance Group, which is both a Jupiter customer and investor, and Sumitomo Mitsui Banking Corp., one of Japan’s largest banks.

Between the lines: Jupiter's competitors in the risk analysis and resilience space include Demex, Cervest, Tomorrow.io and The Climate Service. Moody’s has also been moving into this space.

Add Axios on Google

Climate risk firm Jupiter Intel announces financing and expansion

What to read next