Turin-based startup Eoliann closes €1.5 million round

November 23, 2022
The raising was successfully concluded thanks to the support given to the project by Primo Ventures and Exor Ventures.

Eoliann, a startup born during the first edition of Vento Venture Originator, leverages satellite data and proprietary machine learning algorithms to help financial institutions predict the likelihood and impact of climate risks. In fact, over the past 50 years, global climate disasters have increased by 345 percent, causing losses of 343 billion from the beginning of the new millennium alone to the present. Insurance companies, in 2021, underestimated the impact of natural events on their client portfolios by 30 to 50 percent and thus faced unexpected losses of 45 to 65 billion.

BCorp Eoliann had the insight to leverage the data collected by the more than 1,000 artificial satellites dedicated to Earth observation currently orbiting our planet, which generate a total of 100 TB of information every day, to offer insurance companies and other financial intermediaries an effective predictive tool to curb the losses calculated above.

Thanks to the great insight it had, Eoliann immediately attracted the attention of many investors and financiers and got the support of Primo Ventures and Exor Ventures by closing its first round of 1.5 million euros, which will be used by the startup to increase its team of people motivated to leave an impact in the innovation ecosystem and to and to promote the Italian deep tech landscape.

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Luca Coppolella
Head of Content

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