Barcelona based climate risk modeling startup raised $14.4m in Series A funding led by Kibo Ventures.
“Traditionally, risk modelling companies, whether they come from the insurance or the financial sector, they’ve been using more stochastic and probabilistic approaches to determine what the risk is. So that will be you look at stochastic analysis from the last 100 years. Then try to predict some trends. And then you apply those trends towards the future,” he goes on, explaining the drawbacks with traditional risk models in our rapidly warming (and dangerously changing) world.