Insight Terra is proud to announce the successful close of its series A extension funding round of $5.7 million to rapidly scale its AI-driven greenhouse gas (GHG) and environmental risk platform. Alastair Bovim, Co-Founder and CEO of Insight Terra says the investment shows a strong commitment to tech-enabled solutions to address climate change and a significant investment into innovation, safety, and emerging climate-tech for extractive industries and beyond.
Insight Terra addresses major climate change-driven challenges in both geotechnical/environmental risk management and greenhouse gas (GHG) emissions monitoring. Bovim says the investment by E3 Capital, Fireball Capital, Atlantic Bridge, Globalive, and JLR Star will enable the expansion of its commercial and technical teams to scale its support for global industries, helping clients ensure staff safety and comply with the demands of international standards. Tightening environmental regulations and pressure from investors are significant market factors creating an opportunity for Insight Terra to gain greater traction with global enterprise and industrial clients.
Bovim explains, “The investment will enable us to accelerate the development and expansion of our platform’s capabilities to comprehensively tackle some of the more complex monitoring, reporting, and verification challenges faced by various industries today.”
“In a country like South Africa where climate change is leading to a very real increase in the risks of critical infrastructure failure impacting communities and the environment, there is a compelling case to make better use of digital technology. Real-time monitoring and the conversion of insights into action helps mitigate the risks of negative environmental and human impacts from GHG emissions and geotechnical disasters, such as the 2019 Brazil Brumadinho dam collapse’, says Bovim.
Its real-time edge-to-cloud data management platform delivers actionable insights into environmental risks. For instance, it can help executives answer key questions like, “Are my assets operating safely and in compliance with international standards?” In the context of GHG emissions monitoring and reduction, Insight Terra will now be able to help companies much more effectively monitor, measure, and reduce their fugitive GHG emissions and adhere to international standards.
Commenting on the investment, Andrew Darge, E3 Capital’s lead on the transaction, stated, “The cutting-edge capability of the Insight Platform puts it at the forefront of technology solutions to manage climate-related risks across infrastructure in Africa’s critical industries. We believe the Insight Terra team and its platform can create meaningful impact that aligns with E3’s objectives to invest in companies that drive low carbon solutions for economies in Africa. We are proud to have led this round and join an exceptional investor group.”
Paula Mokwena, CEO of Fireball Capital, added “Fireball is committed to investing impactfully in tech entrepreneurs that will move the needle on helping businesses achieve their ESG objectives, and contribute to the UN’s Sustainable Development Goals – Insight Terra will do just that through its innovative environmental risk management platform and creative leadership and development team – we are very excited to be participating in the company’s expansion.”
Kevin Dillon, Managing Partner at Atlantic Bridge, commented, “As the initial Series A-round lead investor three years ago, we are delighted to see the progress made by Insight Terra, and our continuing involvement in this next stage of funding recognizes the potential we see in the technology and the team for impressive growth in the near to medium term.”
“We are proud to be working with these global investors at a time when there is a growing need in many sectors for trustworthy and insightful data analytics,” concludes Bovim.
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