Blue Sky Analytics Closes US$1.2M Seed Funding; BEENEXT, Zerodha and Stanford Alums Pitch In

Blue Sky Analytics is Zerodha’s first climate-tech portfolio company

India-based environmental intelligence startup Blue Sky Analytics (BSA) has raised US$1.2 million in its seed funding round, the company announced via a statement on its official blog.

The round was led by BEENEXT’s Emerging Asia Fund, with participation from Indian stock broker Zerodha’s fintech fund and incubator Rainmatter Capital and Stanford Angels & Entrepreneurs, a network of Stanford graduates.

The funding marks Zerodha’s first climate tech investment, Zerodha Founder and CEO Nithin Kamath said in the statement.

BSA uses a combination of artificial intelligence (AI), satellite data and cloud computing to source and make available eco-data points such as air quality, water pollution, heat index, flood risk, the statement noted.

The startup is currently working on a forest and farm fire management system called Zuri, it added.

“Over the last couple of years, there has been an increased focus on geospatial technology,” Founder and Managing Partner, BEENEXT, Teruhide Sato.

“There is strong potential in this segment and we see tremendous scope for innovation, especially in a post Covid era where we need to support sustainable solutions,” he added.

Earlier this year, the startup was declared the winner of the AI Innovation Prize supported by the Patrick J. McGovern Foundation and Schmidt Future for its solutions, as a part of the MIT Solve 2019 Challenge, the statement said.

It also said that the startup had earlier launched its Internet of Things (IoT) product Breezo in 2019, to provide researchers, governments, and private companies with air quality data from across India through application program interfaces (API).

BSA was founded in 2018 by siblings Abhilasha Purwar, now BSA’s CEO, and Kshitij Purwar, now BSA’s CTO.

The company previously raised pre-seed funding to the tune of $320,000. An earlier statement noted that BSA is backed by angels such as Founder of Chrys Capital, Sequoia India Managing Director Mohit Bhatnagar, Dalberg Partner Gaurav Gupta, and Near CXOs Shobhit Shukla and Rahul Agarwal.

Abhilasha noted in the statement that BSA is geared towards data products that can help quantify climate risk and inform sustainable investment decisions for its customers worldwide.

“The Covid crisis has made it clear how vulnerable our investment portfolios and economic structures are. But this is just the trailer and the real crisis of the decade is climate change,” she added.

Climate change continues to be one of the most urgent and complex problems faced by the world. The conversation triggered by Covid-19 on sustainability has linked back to it, since climate change inevitably makes the world more susceptible to an increased risk of disaster.

However, investors are taking their time to catch up with climate tech. While the response erstwhile has been lukewarm due to lower returns, anecdotal evidence suggests that the trend may be changing.

H‍eader image courtesy of Blue Sky Analytics

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Cyberhaven Launches Linea AI to Combat Critical Insider Data Risks

Cyberhaven has recently unveiled Linea AI, an advanced AI solution aimed at enhancing data security by mitigating insider threats to essential corporate information. This platform distinguishes itself by leveraging the collective intelligence of top security analysts, applying a deep, human-like understanding to billions of data interactions within an organization.

Top 3 Legal Battles Threatening Elon Musk’s Empire

Elon Musk, the visionary behind Tesla and SpaceX, hardly needs an introduction. His ambitious ventures often catapult him into the spotlight, not just for groundbreaking innovations but also for a series of high-profile legal disputes.

Exploring Top Language Learning Apps of 2024 (Other Than Duolingo!)

As we usher in the new year, many of us are armed with resolutions, and often, topping our bucket list is the ambition to learn a new language. Yet, here’s the twist in the tale—our journey of mastering a foreign tongue is often fraught with lost tracks and dwindling motivation. What if I told you there’s a smoother path? The solution lies in your pocket: simply download a language-learning app. These digital tutors not only nudge you to keep up with your daily lessons but also offer the flexibility to master a new dialect on the go, anytime, anywhere.

Eightfold AI Joins Department of Commerce Initiative for AI Safety

Eightfold AI, an AI-driven talent solution company, has announced its involvement in a Department of Commerce initiative aimed at fostering the development and deployment of trustworthy and secure artificial intelligence (AI). This initiative, under the auspices of the National Institute of Standards and Technology (NIST), introduces the U.S. AI Safety Institute Consortium (AISIC). The consortium aims to unite a diverse group of stakeholders, encompassing AI developers, users, academia, government and industry experts and civil society bodies to advance the mission of safe and reliable AI.

What Are Shadow Boards in the Workplace? Pros and Cons

In today’s rapidly evolving business landscape, companies are constantly seeking innovative ways to maintain a competitive edge. An intriguing development in this arena is the emergence of “shadow boards”—dynamic groups within organizations designed to complement the official board of directors by offering fresh perspectives on critical business strategies. This article explores the role of shadow boards in the modern workplace and highlights their benefits, challenges and how they are shaping future business practices.