Cervest, the London-based AI company that predicts climate change effects in order to help in the decision-making capabilities of businesses, governments, and growers has secured £3.7 million in fresh seed round financing led by Future Positive Capital.
Prior to this round, the firm had raked up £800K in another seed round funding in 2017. Astanor Ventures also participated in the current infusion which takes the total amount raised by the firm to £4.5 million. Sofia Hmich, the founder of Future Positive Capital and Astanor Ventures’ co-founder George Coelho is set to join the board of Cervest as part of the financing.
Founded in 2016 by Iggy Bassi, the platform helps businesses, governments and growers adapt to climate volatility and protect our planet. Through its Earth Science AI platform, the firm claims to be able to analyse billions of data points to forecast how changes in the climate will affect the future.
Taking about the goal of the firm Bassi, the CEO, and founder of the firm says that “Our goal is to empower everyone to make informed decisions that improve the long-term resilience of our planet. Today decision-makers are struggling with climate uncertainty and extreme events and how they are affecting their business operations, assets, investments, or policy choices.”
Future Positive Capital's Hmich commenting about Cervest said, “With reports suggesting we have fewer than 60 years of farming left unless drastic action is taken, the need for science-backed decisions could not be greater. Businesses and policymakers hold the key to change and with access to Cervest’s proprietary AI technology they can start to make that change reality at low cost — before it’s too late.”
With funds coming, it will be really interesting to see how Cervest utilizes that and manages to change the unwanted scenarios through its product.
Image Courtesy : Cervest