Zurich – The software company Correntics has secured financing of 1.5 million euros from the Eurostars fund. The start-up wants to use this to expand its platform for risk analyses caused by climate change in the agricultural sector.
Correntics, a Zurich-based software specialist for climate risk assessment, has secured Eurostars funding of 1.5 million euros. According to a press release, the capital increase will be used for a multinational project in which the Danish weather technology company Cordulus, the Danish Technological Institute and the EClim Group at the University of Zurich(UZH) are also involved.
The four organizations are generating a platform for assessing climate risks along supply chains in the agricultural sector. These are based on the existing software from Correntics. Hyperlocal weather observation and forecasting solutions from Cordulus as well as statistical models and hazard databases from the Danish Technological Institute are integrated. UZH is contributing to the project with a model for risk reduction and climate adaptation.
"Our data-driven risk management technology and AI-based decision support tools enable agri-food companies to increase their resilience in the context of emerging environmental risks," said Michael Gloor, CEO of Correntics, in the press release. "By providing actionable insights into climate risks impacting their global value chains and guiding strategic decisions, it will give companies a competitive advantage in a rapidly changing risk landscape." ce/ww