Holborn-based climate and energy data analytics company Kayrros has snagged €40m (£33.5m) in its latest funding round, as investors seek to unlock the net-zero benefits of space.
The company, backed by the European Investment Bank and BNP Paribas’ VC arm, specialises in geospatial detection technologies – which analyse satellite images to assess the climate costs of economic activity.
“This funding brings together several fields of relevance to Kayrros, starting with the public sector represented by the European Investment Bank (EIB),” Kayrros president Antoine Rostand said. “Their participation underscores the importance of the new space sector.”
The fresh investment from Opera Tech Ventures, the VC arm of the BNP Paribas group, will bring “best-in-class expertise from the financial industry, a sector not previously represented by Kayrros investors”, Rostand explained, as the demand for climate data in the financial sector swells.
The Paris-founded firm planted a base in the capital in 2017, just a year after it was established by Rostand, former BNP Paribas finance lead Jean-Michel Lasry and ex-chief oil analyst for the International Energy Agency.
Vice President of EIB, Ambroise Fayolle added: “Energy security and the carbon footprint are key issues for the public and private-sector. Kayrros has built powerful solutions to tackle these challenges.
“Kayrros’ objectives are aligned with European economic and climate policy and EIB is happy to support Kayrros in the pursuit of these goals.”
The latest funding round takes the total Kayrros has raised since 2016 to €72m.