19 Sep 2007   |   News

France: Climpact raises €1M for climate risk software

Funding round

Climpact of Paris, France, a developer of climate risk analysis software, raised €1 million in a first-round funding led by Elaia Partners, a French independent venture capital firm focusing on software technologies.

This investment will allow Climpact to reinforce its R&D and professional services teams, increase its sales in France and prepare for European deployment. Proceeds from this A round will also allow the extension of Climpact’s offering to the financial sector, with indices targeted for asset managers and financial analysts.

Philippe Gire, Elaia General Partner, who conducted the investment, explains, “Many companies see their sales fluctuate from 10 per cent to 30 per cent according to weather conditions. Climpact gives them the tools to manage this impact, thus transforming a constraint into a competitive advantage.”

Harilaos Loukos, Climpact Chairman and CEO, says the money will help to accelerate the company’s growth. “This first round will allow us to consolidate our leadership in France in the emerging market of climato-economic information and to extend to other sectors such as finance, our index approach of climate risk management.”

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