UrbanFootprint, an analytics startup that makes use of details to greater map hazard, raised $25 million in Series B funding, the corporation tells Axios.
Why it matters: The round shut April 15, CEO Joe DiStefano tells Axios, which means recent funding rounds are nonetheless a lagging indicator of current non-public industry activity.
Driving the information: Citi co-led the round by using Citi Ventures and Dash with current investor Social Money. DiStefano declined to disclose the round’s valuation.
- New buyers 2150, A/O PropTech, Certain Guaranty and Dcode Money joined the spherical with earlier traders Valo Ventures and Radicle Effect.
State of perform: Though funding rounds have dropped off in the latest weeks, investors are even now rather bullish on facts program startups in the local weather area.
How it performs: UrbanFootprint employs dynamic information from general public sources, governing administration businesses, weather experiences and companies’ inner stockpiles to create a multilayered look at danger for investments.
- DiStefano said UrbanFootprint functions with utilities like California’s embattled utility Pacific Gas & Electrical to improved prioritize investment decision in new and getting old infrastructure.
- It employs PG&E’s engineering facts to rank asset age and brings together that with facts on the group it serves and its resilience to destructive outcomes like reduction of energy and wildfires. PG&E can then use the details to prioritize which substations or turbines to spend in.
- UrbanFootprint also operates intently with providers in actual estate and finance, in addition authorities companies on applications like greater deploying SNAP advantages or rental assistance.
What’s following: UrbanFootprint partly relies on the myriad of data firms popping up in the local weather-technology space and plugs into their data resources to greater juice its individual technology.
- Regardless of whether it can work on its very own — or in the long run get rolled up into a larger provider — will probably be at the mercy of investors’ personal chance tolerance amid belt tightening.