Climate insurtech IBISA raises a €1.5m seed round led by Insurtech Gateway.
by Startacus Admin
IBISA, the innovative startup aiming to revolutionise how the agricultural ecosystem manages risk, secures investment to support further expansion into existing and new markets.
It’s a great end to the year for Luxembourg based startup IBISA which has just raised a €1.5m seed round, led by specialist incubator + venture fund Insurtech Gateway, alongside other strategic co-investors including Rockstart’s AgriFood fund.
IBISA builds, distributes and operates climate insurance solutions for agriculture in a cost-efficient, scalable and innovative way. Its solution changes the way that cooperatives, agriculture financial providers, agricultural suppliers and food and beverage corporations recover from the impact of extreme weather events and supports smallholder farmers to stay in business and flourish.
With the acceleration of the climate crisis and the frequency and severity of extreme weather events putting the entire food supply chain at more risk than ever before, IBISA's solution is therefore critical.
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Maria Mateo, Co-Founder and CEO, Ibisa explains: “I come from an agricultural family and have faced unpredictable weather events firsthand. After 15 years of working in the satellite industry and with the current state of technologies like remote sensing and blockchain, I saw the opportunity to transform agriculture insurance for the better. With this round we will grow our presence in the markets we currently operate in and start opening new markets. We will also continue to further develop our climate insurance products and our end-to-end platform to make insurance transparent, cost-efficient and frictionless across the chain.”
Stephen Brittain, Co-Founder, Insurtech Gateway adds: “Historically microinsurance was not commercially viable due to many reasons such as low premiums, expensive claims handling, challenging distribution and a lack of trust. IBISA is using technology across the whole ecosystem to solve these problems and help manage risk. Enabling smallholder farmers around the world to access affordable insurance and stabilise their incomes in the face of extreme weather. We are excited to be investing in such an impactful and scalable model.”
Exciting times ahead for this hugely important innovation business!
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Published on: 13th December 2021
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