This investment will enable Previsico, a leading provider of real-time flood forecasting technology, to accelerate its mission to help insurers, businesses and communities mitigate the major and growing issue of flood risk worldwide.
The round includes investment from Connecticut Innovations (CI), Connecticut’s strategic venture capital arm; BlueOrchard Finance Limited, a leading global impact investment manager and member of the Schroders Group; and builds on earlier investment led by Burnt Island Ventures, with continued support from Foresight Capital.
Our team, led by Zickie Lim, advised on all aspects of the transaction, drawing on our expertise in venture capital and climate tech to ensure a smooth process for all parties involved. Mills & Reeve also advised on the earlier investment round.
Zickie Lim, partner at Mills & Reeve, commented: “We’re thrilled to have been able to help Previsico on this milestone investment which will help drive innovation and growth in a sector that is critical to climate resilience.
"The increasing frequency of localised natural disasters is driving demand for advanced predictive solutions. Previsico’s technology is already helping insurers and businesses reduce losses from flooding, and this latest investment will further strengthen its global reach.
"Our ability to support our entrepreneurial clients on their fundraising journeys, from pre-seed and seed through to Series A and beyond, is a key facet of our Venture Capital offering. Coupled with our deep expertise in the technology/climate tech sector and full service capability, we can advise ambitious and emerging businesses on all their legal needs as they grow and scale.”
Craig Deacon, CFO of Previsico, added: “We are excited to have secured our Series A funding round with support from Mills & Reeve.
"This successful investment offers a clear affirmation of our vision and the overarching mission of our company; to minimise the effect of flooding globally by enabling people and organisations to prepare and act to prevent it’s impacts.”
Our content explained
Every piece of content we create is correct on the date it’s published but please don’t rely on it as legal advice. If you’d like to speak to us about your own legal requirements, please contact one of our expert lawyers.