The funding round, which was led by Quantum Innovation Fund alongside existing investors IQ Capital and National Grid, is designed to fuel Risilience’s mission to help businesses moves towards a low carbon economy.
The venture capital investment team at Mills & Reeve advised IQ Capital on the investment which will be used to expand Risilience’s market-leading SaaS Platform and drive its international expansion in the US.
Risilience grew from the Centre for Risk Studies at the University of Cambridge Judge Business School after identifying a growing need for science-based climate analytics.
The Risilience platform turns data into actionable insights, empowering organisations to understand and quantify the scope, magnitude and timescale of climate risk to their strategies and operations. This allows companies to measure and balance the potential financial impacts with the cost of transitioning their business to operate more profitably in a low-carbon economy.
Risilience works with some of the enterprise world leaders in transforming themselves for the low-carbon economy, including Nestlé, Burberry, Coca-Cola Europacific Partners, Reckitt, easyJet and Tesco.
Risilience’s CEO, Dr. Andrew Coburn, said: “We believe that the road to net zero presents an opportunity as well as a risk for global enterprises and our unique combination of technology combined with world-class risk science supports our clients to mitigate risks, as well as capitalise on opportunities. With companies under increasing regulatory and shareholder pressure to understand, report and mitigate their potential climate impact, this additional equity funding will help us support them at each stage of their journey.”
Kerry Baldwin, co-founder and managing partner at deep-tech investor IQ Capital, added: “We’re delighted with the continued success Risilience has shown in terms of growth and the impact it is having on its existing client base. We look forward to their next stage.”
Edward Sloan, head of venture capital investment, London, at Mills & Reeve said: “Risilience’s cutting-edge technology is revolutionising the way businesses can deal with the impact of client change. We’re pleased to advise IQ Capital on its continued investment in the company which will drive forward its international growth as the world increasingly moves towards a low carbon economy.”
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