Satellite-based insurance risk profiling startup Value.Space closes oversubscribed investment round  

Value.Space raises €2,1 million, backed by several venture capital funds behind tech unicorns such as Bolt, Wolt and Veriff.  

LONDON (9 May) – As the world’s largest infrastructure projects reach and surpass the “alert age” of 50 years , close monitoring for anomalies that could indicate critical risk become necessary to protect investments and prevent loss of life. The effects of climate change only add stress factors to today’s aging infrastructure.  

UK-based start-up Value.Space develops comprehensive monitoring technology based on satellite-gathered data that can detect millimeter scale anomalies in large infrastructure objects, which could pose risks to the structure’s integrity.  

Value.Space’s unique risk profiling technology is created specifically for the insurance industry. It can be used as a loss prevention and pricing tool when assessing the structural health of objects like dams, mines or large-scale commercial property. Spaceborne monitoring allows risk profiles to be created many times faster and cost effectively than any land-based alternatives. The company started development at Lloyd’s Lab, the innovation hub of the world’s insurance marketplace. 

Value.Space has just completed a successful and oversubscribed second close of its seed round investment, raising €2.1 million to accelerate growth. 

Reijo Pold, founder of Value-Space and Chief Strategy Officer said:  

“We are delighted to have excellent investors backing our growth. The facts speak for themselves: in March, Swiss Re estimated that in 2021 natural catastrophes resulted in economic losses of $270 billion, of which $111 billion were insured losses. That is a big protection gap. We are now able to provide a new and scalable way to make risks and opportunities quantifiable that the insurance market needs to manage and absorb future risks.” “Solid backing from investors will help us to boost the capture of market share with our pioneering product for the insurance industry and quickly expand our product offer to other segments in the finance industry.” 

Gerri Kodres, the Founding Partner of Specialist VC added:  

“We believe Value.Space’s novel satellite-based approach to monitoring and assessing risks related to critical infrastructure has the potential to transform the way these objects are profiled and maintained. We are excited to back the founding team whose vision and product help detect climate change related risks in aging infrastructure, significantly increasing public safety.”

Value.Space has already produced more than 3500 risk profiles for large infrastructure objects in 70 countries or jurisdictions around the world. This has saved clients tens of millions of euros, simply because using satellite-based monitoring and technologies is vastly more cost effective and quicker than any available land-based alternative assessment method. No less importantly it has saved more than 150 tons of CO2 emissions.  

NOTES FOR EDITORS: 

Among the investors participating in Value.Space’s successful seed funding round were Specialist VC,  Superangel, Lemonade Stand, Inventure, BADideas.fund, Amalfi and Linnar Viik, the former IT-advisor to the Prime Minister of Estonia 

Value.Space is based in the UK and Estonia