Picture credit: 7Analytics
Bergen, Norway-based 7Analytics, a startup that makes use of Synthetic Intelligence (AI) and Machine Studying (ML) to foretell flood behaviour, introduced on Thursday that it has raised $2.5M (roughly €2.5M) in a Seed spherical of funding.
The spherical was led by Momentum Companions with participation from Assemble Enterprise, Hyperlink Capital, and Obos VC.
7Analytics says it should use the funds to create fashions for different pure dangers reminiscent of landslides and biodiversity.
“In case you take a look at the pure hazards on the worldwide scale, flooding has the best financial affect on society,” says Jonas Toland, co-founder of 7Analytics. “We’d like innovation to mitigate flood danger, so a flood prediction instrument was an impactful place to begin for us.”
7Analytics: What it’s essential know
7Analytics was based in 2020 by geologists and knowledge scientists to mannequin and predict flood behaviour. The corporate’s first product, FloodCube, is utilized by numerous prospects, together with Bergen Municipality, Skanska – a contractor, and Multiconsult – a consulting engineer.
The product makes use of superior terrain processing fashions, together with numerous different knowledge sources, to create flood fashions that can be utilized by companies and municipalities to plan and mitigate the affect of flooding.
Within the US, 7Analytics has joined forces with StormGeo to handle the rising injury prices by real-time flood prediction. The corporate says that Hurricane Ida alone induced an estimated $75B (roughly €77M) in damages.
“This partnership {couples} StormGeo’s precision climate forecasting with 7A’s leading edge flood modelling, permitting enterprise determination makers to leap from rainfall forecasts to actionable flood inundation forecasts that talk how excessive the water will rise at their property and operations. based mostly on leading edge flood modelling,” mentioned Ken Provider, VP Onshore, StormGeo.
“Improve in Local weather Change and urbanisation causes new calls for and a extra advanced danger image for builders,” says Birgitte Molstad, Environmental Director at OBOS. “7Analytics gives a digital answer to evaluate and foresee climate-related dangers and thus forestall pointless injury to buildings. We think about 7Analytics. And have already applied their instrument in a number of development tasks.”
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