# Climate X

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/climate-x

- Industry: Software
- Headquarters: London, UK
- Website: www.climate-x.com
- Total disclosed funding: $25M
- Latest round: Series A (Jun 26, 2024)
- Investors on record: 14

## About

Based in the UK, Climate X Ltd operates as a provider of advanced climate risk data and analytics, helping organizations manage physical climate risks and enhance resilience against climate change impacts.Founded in 2020, Climate X Ltd is headquartered in London, UK. The company focuses on delivering climate risk analytics and has successfully completed three investment deals. Their latest funding round in June 2024 raised GBP 14.2 million in Series A funding, led by GV, with participation from a range of notable investors, including Pale Blue Dot and Commerzbank. Lukky A serves as the CEO, contributing to the company's vision and operational strategy.Climate X specializes in advanced climate risk data and analytics, primarily offering two core products: Spectra and Adapt. Spectra provides comprehensive assessments of physical climate risks by translating these into financial loss metrics at both portfolio and asset levels. This enables organizations to quantify the probability and severity of weather events well in advance, facilitating proactive risk management strategies. Adapt is the first-of-its-kind solution that quantifies capital expenditure and return on investment (ROI) for climate adaptation investments, allowing clients to integrate adaptation measures into their investment cycles effectively. The company primarily serves American organizations in the financial services, real estate, and asset management sectors, including Global Systemically Important Banks (G-SIBs) and asset managers with substantial assets under management (AUM). Climate X’s products are designed to address the urgent need for resilience against climate change impacts, providing actionable insights to enhance sustainability and operational efficiency, particularly in markets across the United States.Climate X generates revenue through a subscription-based model for its products, Spectra and Adapt. These offerings are structured as annual licenses, enabling clients to access the software and associated data analytics for ongoing risk assessments and adaptation evaluations. Revenue is primarily derived from partnerships with financial institutions and asset managers who utilize these tools to enhance their climate resilience strategies. For instance, a client might enter into a subscription agreement for Spectra, allowing them to perform short and long-term physical risk assessments. Pricing plans reflect service usage tiers, where clients pay based on the volume of assets and the depth of analytics required. The company’s flagship products align with international standards such as ISO and EU Taxonomy, which not only secure compliance for clients but also facilitate informed investment decisions.In June 2024, Climate X Ltd raised GBP 14.2 million in Series A funding, led by GV, to support its international expansion plans. The company is looking to design and launch new products that will enhance their offerings in the climate analytics space. Specific targeted markets for expansion include Europe and Asia, aiming for significant presence in these regions by 2025. The recent funding will be crucial in accelerating these initiatives, ensuring that Climate X can effectively address growing climate risk management needs globally.

## Funding rounds

- Series A, Jun 26, 2024, $18M — Western Technology Investment, GV, Commerzbank, Blue Wire Capital, PT1, Noa, Unconventional Ventures, Pale Blue Dot
- Seed, Mar 14, 2022, $5.4M — Commerzbank, Deloitte LLP, Blue Wire Capital, Noa, NewChic Capital, A100X, Pale Blue Dot, Blue Impact, VOYAGERS
- Seed, Jun 28, 2021, $1.5M — Blue Wire Capital, Possibilian Ventures, NewChic Capital, A100X, Pale Blue Dot

## Investors

- Blue Wire Capital (https://capitalatlas.ai/funds/blue-wire-capital) — Seed, Series A
- Possibilian Ventures (https://capitalatlas.ai/funds/possibilian-ventures) — Seed
- NewChic Capital — Seed
- A100X (https://capitalatlas.ai/funds/a100x) — Seed
- Pale Blue Dot (https://capitalatlas.ai/funds/pale-blue-dot) — Seed, Series A
- Commerzbank (https://capitalatlas.ai/funds/commerzbank) — Seed, Series A
- Deloitte LLP — Seed
- Noa (https://capitalatlas.ai/funds/noa) — Seed, Series A
- Blue Impact (https://capitalatlas.ai/funds/blue-impact) — Seed
- VOYAGERS (https://capitalatlas.ai/funds/voyagers) — Seed
- Western Technology Investment (https://capitalatlas.ai/funds/western-technology-investment) — Series A
- GV (https://capitalatlas.ai/funds/gv) — Series A
- PT1 — Series A
- Unconventional Ventures (https://capitalatlas.ai/funds/unconventional-ventures) — Series A