It’s a green deal! Betting big on growing demand for climate data, French tech snaps €40 million

Paris-based climate and energy data analytics company Kayrros has raised €40 million funding. The round saw the participation of the French government (acting through French Tech Souveraineté), European Investment Bank (EIB), NewSpace Capital, Opera Tech Ventures, the VC arm of BNP Paribas group, and Kayrros’ historical investors. 

The startup, which focuses on the geospatial monitoring industry essential for addressing the climate crisis, has raised €72 million since its inception in 2016.

The latest funding comes as a part of the initiative of the French government to steer next-generation satellite intelligence to drive the space economy. France 2030 intends to devote a total of €1.5 billion to enable within five years a French reusable launcher, new participants in the space industry, and greater connectivity constellations.

The funds will support the platform’s geospatial detection technologies, which analyse satellite images and other data to assess the climate impacts resulting from economic activity. Its measurements help private and public sector organisations manage climate risks, implement low-carbon transition strategies, achieve critical sustainability goals and transparently communicate their progress.  

Going forward, the company plans to construct a New Space to promote spatial sovereignty in radically new terms.

Antoine Rostand, president, Kayrros said: “The funding shows the importance of the New Space sector for French and European climate policy, as expressed by President Emmanuel Macron in his presentation of European spatial strategy.”

“The availability of reliable near real-time climate data is a strategic advantage for a country's energy security, sustainability and economic growth. Relying in part on public data from the European Space Agency, Kayrros and its partners have built a toolbox to fight global warming, the adoption of which must be accelerated. It is in this capacity that Bpifrance supports this operation,” said Adrien Muller of Bpifrance. 

Ambroise Fayolle, vice president, EIB added, said: “Energy security and the carbon footprint are key issues for the public and private sector. The platform has built powerful solutions to tackle these challenges. Kayrros’ objectives are aligned with European economic and climate policy.”