Barcelona-based Mitiga Solutions, a climate-tech firm harnessing scientific methods and avant-garde technology to fortify resilience and adaptive capabilities against climate-related hazards, has managed to raise a significant €13.25m in a Series A round.
This fundraising effort was spearheaded by Kibo Ventures and saw participation from investors including Microsoft Climate Innovation Fund, Nationwide Ventures, Faber Ventures, and CREAS Impacto.
At its core, Mitiga Solutions unifies scientific models with cutting-edge technology to better gauge the impact of natural hazards. This approach allows insurance, real estate, energy, and financial companies to understand and address the risks and uncertainties brought about by climate change. The company employs high-performance computing, artificial intelligence, and scientific models to streamline risk modelling capabilities and insurance products.
With the newly acquired funding, Mitiga Solutions intends to establish itself as the standard in Climate Score, providing firms with the necessary tools to assess, measure, and report climate hazard-associated risks. It aims to enhance its physics-based models to prevent natural hazards from escalating into disasters.
Mitiga Solutions boasts a prestigious list of clients which includes insurance companies like Howden Group, international bodies such as EUROCONTROL and UNDP, and non-profit organisations like the Danish Red Cross.
The company’s founders have over 20 years of experience in solving complex environmental problems using technology disciplines like AI, high-performance computing, geophysics, and numerical weather prediction. The firm was officially founded in 2018 as a spin-off of the National Supercomputing Center in Barcelona.
Mitiga Solutions CEO and co-founder Alejandro Martí said, “We’re on a mission to prevent natural hazards from becoming disasters and push the boundaries of how risks are managed and mitigated. But most importantly, we want to make the world a more resilient and safer place under a changing climate.”
Previously, Mitiga Solutions joined Microsoft’s Startup Program in 2020 and continued with the Founder’s and Fast-Track programs the following year, becoming a Microsoft ISV Co-Sell partner in 2022.
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