Today, VIDA, a leading geospatial software provider that helps infrastructure investors manage impact sustainably, announced that it has successfully raised €3 million in funding.
VIDA's software lets decision-makers know what is happening across millions of locations in real time. Its map-based interface fuses multiple data layers, including geospatial, into a format that makes it easy to assess, monitor and report climate risk and other critical environmental markers.
It replaces data typically stored in various formats, which renders it inaccessible and unwieldy.
VIDA's software helps multiple stakeholders manage ESG risk, especially climate-related, in infrastructure investment. Users can collaborate, de-risk decisions, comply with regulations and discover attractive opportunities.
Founded in 2018, VIDA was built with support from the European Space Agency. It is already well-placed in over 20 countries, where leading infrastructure funds, institutional investors, governments and multinational companies use its software.
Tobias Engelmeier, co-founder and CEO of VIDA, shared:
"We are delighted to partner with Cusp Capital in our journey to bring climate-informed decision-making to infrastructure investment and management worldwide.
This funding empowers us to further accelerate our growth, reach new markets and build out our unique climate risk and impact assessment tools."
The funding is from Cusp Capital, a prominent venture capital firm focused on early-stage investments in European technology companies.
"Cusp Capital is thrilled to be part of VIDA's growth story," said Dr. Carolin Althoff, investor and Head of ESG at Cusp Capital.
"We work with entrepreneurs who understand that ESG is a business opportunity in building the next generation of tools and services, leading to a positive impact on our planet and society. Seeing exactly that in the VIDA team, we look forward to partnering with them as they rethink operations for infrastructure investors."
The investment enables VIDA to scale its operations, broaden its product offerings, and solidify its presence in key markets worldwide.
Lead image via VIDA. Photo: Uncredited