Barcelona-based climate tech company Mitiga Solutions has raised a €13.25 million Series A round for its solution which predicts and prevents natural hazards from becoming disasters using high-performance computing, AI, and science.
The round was led by Kibo Ventures alongside Microsoft Climate Innovation Fund, Nationwide Ventures, Faber Ventures, and CREAS Impacto.
“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,” says Dr. Alejandro Martí, CEO and co-founder of Mitiga Solutions.
Mitiga Solutions takes into consideration various dynamic factors, such as weather and geophysical conditions to better evaluate the impact of natural hazards as a result of climate change. By adopting this approach, it more precisely analyses risks across time, which helps insurance companies, real estate, and financial institutions better understand and address risks and uncertainties.
“There is a lot of potential and resilience in climate technology. We have been impressed by what Alex and the team have built; a proprietary state-of-the-art technology with multiple applications. We are delighted to support Mitiga with its vision to become a category leader while helping to reduce climate change disasters," says Javier Torremocha, co-founder and Managing Partner at Kibo Ventures.
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