Eoliann, a Turin, Italy-based benefit corporation that makes climate risks more predictable, raised €1.35M in funding.
Primo Space, a fund managed by Primo Ventures SGR, made the investment.
The company intends to use the funds to continue to expand operations and its development efforts.
Founded by Roberto Carnicelli, Chiara Mugnai, Giovanni Luddeni and Emidio Granito, Eoliann leverages satellite data and proprietary machine learning algorithms to predict the probability and impact of natural disasters for financial institutions considering the effects of climate change.
Primo Space invests in satellite data applications for forecasting irrigation needs, commodity prices and climate risk. Primo Ventures is an asset management company specialized in early stage technological venture capital in the digital and space sector. The firm currently manages the funds: Barcamper Ventures, Barcamper Ventures Lazio, in partnership with the Lazio Region, and Primo Digital in the digital sector and Primo Space Fund in the new space economy sector.