ClimateAi Announces $22M Series B Financing

April 13, 2023Client News

Gunderson Dettmer represented client ClimateAi, a climate resilience platform, in its $22 million Series B financing led by Four Rivers Group, with participation from Neotribe, Yaletown Partners and Radical Ventures. ClimateAi’s platform helps companies and governments minimize near- and long-term climate risk exposure — across operations, sourcing and supply chain, risk management, asset diligence & portfolio management and more.

The new capital will be used to accelerate expansion into new territories, expand the team and continue its tradition of artificial intelligence breakthroughs.

In the announcement of the transaction, ClimateAi’s CEO and co-founder Himanshu Gupta said, “As the IPCC’s report released last month highlights, we need swift and drastic action to tackle climate change — but even with it, we are locked into at least twenty years of climate change’s impacts, so adaptation measures are urgent and necessary to prevent the worst impacts. Our platform creates unparalleled climate intelligence, reducing long-term forecast uncertainty by average 85% relative to best-available alternatives, generating significant alpha to incentivize companies to act now on climate change.”

The Gunderson Dettmer deal team was led by Nic Markman and included Shawna Reeder, Micaela Cervantes and Erika Athens.

Four Rivers Group