ClimateTech startup FloodMapp has set a brand new report for an Australian seed spherical after elevating US$6 million (A$8.4m).
The spherical led by New York VC Union Sq. Ventures’ Local weather Fund, with participation by Mundi Ventures, Local weather X, and Jelix Venutures.
FloodMapp will use the capital injection to scale the corporate and increase into new markets.
The seed spherical smashes the seed spherical report set simply final week, when Blackbird, Zip’s Larry Diamond and Steve Baxter’s TEN13 backed the ecommerce fintech On the spot in a $2.2 million increase.
FloodMapp gives actual time, property-specific flood forecasts, inundation maps and analytics to enhance all phases of emergency administration. Merchandise ForeCast, NowCast and PostCast present very important flood intelligence earlier than, throughout and after flooding to assist with preparation, response and restoration.
Co-Founder and CEO Juliette Murphy, stated the capital offered an unbelievable alternative for the corporate to ascertain themselves as world-leaders in real-time flood intelligence for emergency administration.
“Since founding the corporate in 2018, we’ve assembled an unbelievable and multidisciplinary group who’ve made the unimaginable attainable in a deep tech. Following years of R&D in AI, hydrology and hydraulics, we’ve developed and scaled our groundbreaking new flood mannequin and we’ve proved the know-how in actual flood occasions,” she stated.
“Our prospects throughout Australia and the USA are already utilizing FloodMapp to mitigate the impacts of flooding and defend crucial infrastructure. ForeCast has been efficiently utilized by emergency managers to plan evacuations and save lives, and NowCast is getting used to assist drivers navigate round flooded roads in actual time. We are actually prepared for the subsequent stage of our growth: scaling the enterprise mannequin to help extra communities and other people affected by flooding.”
Nick Grossman, Associate at Union Sq. Ventures stated the match to The Local weather Fund was an ideal match with its concentrate on working within the local weather mitigation and adaptation area.
“Final yr, Hurricane Ida introduced catastrophic flooding to New York Metropolis, leading to lack of life and devastation. However that is occurring on a world scale,” he stated.
“The world is going through a local weather disaster and we’d like the most effective and brightest thinkers, innovators and inventors from all over the world to show their collective expertise to discovering options.
Grossman stated FloodMapp it the VC’s first adaptation-focused funding.
“FloodMapp has developed a world-first flood modelling know-how to foretell flooding at a granular, avenue degree in actual time. What excites us most about FloodMapp is the information community impact,” he stated.
“By working with emergency managers and communities by partnerships like Waze, FloodMapp is accumulating real-time floor statement information to repeatedly validate and enhance fashions.”