Climate risk data startup Sust Global raises $3.2M to deliver more credible climate insights
Today, we are announcing a $3.2 million seed round led by Hambro Perks, with investment from Vala Capital, Powerhouse Ventures, Thirdstream Partners, and angel investors from leading UK and US financial firms. Sust Global will use this funding to grow the size of its commercial and technical teams and to expand its climate product into new markets such as real estate and banking.
Sust Global is building a geospatial product to solve today’s climate data issues. The company has built product capabilities that deliver high-resolution climate risk data and near real-time emissions insights across global assets.
Sust Global uses a ‘geospatial first’ approach to differentiate in the crowded climate data space. By using deep learning techniques to transform climate models, satellite and geospatial data, the company has created a one-stop-shop for physical climate risk and emissions insights. Customers, including global data providers, investors and corporates, can access insights via a cloud-native analytics product.
Sust Global’s approach is novel in its integration of multiple geospatial datasets. Their product integrates historic and near real-time data from satellites and ground based sensors, coupled with forward-looking global climate models, using novel spatial statistics and deep learning techniques.
Funded by the European Space Agency, Sust Global’s research has been recently featured in the Neural Information Processing Systems (NeurIPS) and the American Geophysical Union (AGU) conferences.
Josh Gilbert, Sust Global CEO, said,
“At the UN’s COP26 summit, world leaders, CEOs and celebrities will announce promises to address the climate crisis. But how hollow are these promises? Corporates, investors and governments are accused of greenwashing and will likely fall short of their commitments. A large part of this is due to a lack of accurate, validated and transparent data.
In an increasingly crowded climate data sector, our geospatial-first approach to climate risk data and emissions insights is truly unique. As our recent customer traction indicates, existing data on climate impacts is often inaccessible. We’re thrilled to secure this investment to further our mission to deliver credible climate data to business and finance.”
Gopal Erinjippurath, CTO & Head of Product at Sust Global, says,
“We see a massive opportunity and an unmet need for data-driven interpretation of the latest climate models. Through fusing data sources across different time scales, we are developing the essential inputs and data transformation tools for more sustainable, climate aware capital allocation.”
Quotes from our investors:
Tom Bradley, Partner at Hambro Perks says:
“Sust Global is addressing a huge problem with a unique software solution. We want to partner with the best teams from an early stage and this investment gives us the opportunity to do that. We look forward to collaborating with Josh and Gopal and to supporting them as they build a leader in their market.”
“The challenge for the next generation of climate risk solutions will be integration. Accurate and efficient sourcing, validation, and integration of data for specific customers needs to be done in a scalable manner,” said Emily Kirsch, Founder & Managing Partner of Powerhouse Ventures. “Sust Global covers all these steps, empowering their customers to account for the risks and emissions of every single asset.”