Insight Terra raised $5.7 M Series A extension funding to scale climate-tech platform
Insight Terra, a South African startup, has secured US $5.7 million in Series A extension funding to expand its AI-powered platform for environmental risk and greenhouse gas (GHG) analysis.
With a focus on environmental risk management, Insight Terra provides a platform that converts complicated data into useful insights. The platform’s emphasis on real-time analytics helps businesses to efficiently monitor and reduce their environmental impact, enhancing sustainability and compliance initiatives.
In order to scale its support for global industries and help clients ensure staff safety and adhere to international standards, the company has secured a US $5.7 million round of investment from E3 Capital, Fireball Capital, Atlantic Bridge, Globalive, and JLR Star. This investment will allow the company to expand its commercial and technical teams.
According to Alastair Bovim, co-founder and CEO of Insight Terra, the investment showed a deep dedication to tech-enabled climate change solutions and a substantial investment in safety, innovation, and cutting-edge climate technology for extractive industries and beyond.
“The investment will enable us to accelerate the development and expansion of our platform’s capabilities to comprehensively tackle some of the more complex monitoring, reporting, and verification challenges faced by various industries today,” he said.
“In a country like South Africa where climate change is leading to a very real increase in the risks of critical infrastructure failure impacting communities and the environment, there is a compelling case to make better use of digital technology. Real-time monitoring and the conversion of insights into action helps mitigate the risks of negative environmental and human impacts from GHG emissions and geotechnical disasters, such as the 2019 Brazil Brumadinho dam collapse.”
The Insight Platform’s state-of-the-art capabilities place it at the forefront of technological solutions to manage climate-related risks across infrastructure in Africa’s vital industries, according to Andrew Darge, E3 Capital’s lead on the deal.
“We believe the Insight Terra team and its platform can create meaningful impact that aligns with E3’s objectives to invest in companies that drive low carbon solutions for economies in Africa. We are proud to have led this round and join an exceptional investor group,” he said.
