# IBISA Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ibisa-network

- Industry: Insurance
- Headquarters: Luxembourg, Luxembourg
- Website: www.ibisa.network
- Total disclosed funding: $1M
- Latest round: Seed (Aug 16, 2022)
- Investors on record: 4

## About

IBISA Network develops innovative index-based insurance solutions for the agriculture sector, focusing on mitigating risks associated with climate change and adverse weather events for farmers and agricultural stakeholders.Founded in 2019 and headquartered in Luxembourg, IBISA Network provides parametric insurance solutions tailored to agricultural stakeholders. The company was co-founded by Alessandro De Venuto, Annette Houtekamer, Jean-Baptiste PLEYNET, and Maria Iborra. It has successfully engaged in five funding deals, with the most recent being in June 2024 when they raised USD 3 million from investors including Acumen and Equator, among others. This funding round marks the total amount raised by the company at USD 3 million, focusing on enhancing their insurance offerings.IBISA Network offers index-based insurance products designed for the agriculture sector, leveraging satellite data to automatically trigger payouts based on specific weather events such as droughts, heavy rainfall, or extreme temperatures. Their services aim to support smallholder farmers, agricultural cooperatives, and insurance companies by providing timely financial compensation within 10 days of a weather event. Operating in diverse markets including the Philippines, India, New Zealand, Guatemala, and certain regions in West Africa, IBISA addresses a range of agricultural practices with its innovative solutions.For the most recent year, IBISA Network reported a revenue of USD 709,445.3 and an EBITDA of USD -60,495.6, focusing its revenue generation on its index-based insurance products sold to agricultural producers and insurance providers, in partnership with local cooperatives and insurers.With the recent funding of USD 3 million secured in June 2024, IBISA Network plans to enhance its parametric insurance solutions targeting weather-related risks across Asia and Africa. The company aims to expand its market reach and introduce new products tailored to mitigate the impacts of climate change on agriculture. Specific markets for expansion have not been disclosed, but the focus remains on leveraging the latest funding to scale operations and improve service delivery in these regions.

## Funding rounds

- Seed, Aug 16, 2022 — Ankur Capital
- Seed, Dec 9, 2021, $1M — ConsenSys Ventures, InsurTech Gateway, Draper University
- Seed, Nov 1, 2020 — Draper University

## Investors

- Draper University (https://capitalatlas.ai/funds/draper-university) — Seed
- ConsenSys Ventures (https://capitalatlas.ai/funds/consensys-ventures) — Seed
- InsurTech Gateway (https://capitalatlas.ai/funds/insurtech-gateway) — Seed
- Ankur Capital (https://capitalatlas.ai/funds/ankur-capital) — Seed