BNP Paribas, the French Public Investment Bank Bpifrance and the European Investment Bank have joined a €40 million funding round in climate data and analytics startup Kayrros.
The funds will support Kayrros’ geospatial detection technologies, which analyse satellite images and other data to assess the climate impacts resulting from economic activity. Kayrros’ measurements help private and public sector organisations manage climate risks, implement low-carbon transition strategies, achieve critical sustainability goals and transparently communicate their progress.
Antoine Rostand, Kayrros president, says: “This funding brings together several fields of relevance to Kayrros, starting with the public sector represented by the European Investment Bank (EIB) and Bpifrance through French Tech Souveraineté. Opera Tech Ventures, the VC arm of BNP Paribas group, brings best-in-class expertise from the financial industry, a sector not previously represented by Kayrros investors, as we address the sector’s growing demand for climate data."
Adrien Muller of Bpifrance, comments: “The availability of reliable near real-time climate data is a strategic advantage for a country's energy security, sustainability and economic growth. Relying in part on public data from the European Space Agency, Kayrros and its partners have built a toolbox to fight global warming, the adoption of which must be accelerated. It is in this capacity that Bpifrance supports this operation."