Insight Terra, a South African climate-tech company specializing in environmental risk management, has successfully closed a $5.7 million Series A extension funding round. The investment was led by E3 Capital, with participation from Fireball Capital, Atlantic Bridge, Globalive, and JLR Star.
Founded in 2021, Insight Terra has developed a real-time edge-to-cloud data management platform that provides actionable insights into environmental risks. The platform is designed to assist industries in monitoring and mitigating their environmental impact, ensuring compliance with international standards, and enhancing sustainability efforts.
The newly secured funds will be allocated to expanding Insight Terra’s commercial and technical teams, enabling the company to scale its support for global industries. This expansion aims to help clients ensure staff safety and adhere to tightening environmental regulations. Additionally, the investment will accelerate the development of the platform’s capabilities to address complex monitoring, reporting, and verification challenges across various sectors.
Alastair Bovim, Co-Founder and CEO of Insight Terra emphasized the significance of the investment:
“The investment will enable us to accelerate the development and expansion of our platform’s capabilities to comprehensively tackle some of the more complex monitoring, reporting, and verification challenges faced by various industries today.”
He highlighted the importance of real-time monitoring in mitigating environmental and human impacts, citing incidents like the 2019 Brumadinho dam collapse in Brazil as examples of preventable disasters through effective monitoring.
Andrew Darge, E3 Capital’s lead on the transaction, stated:
“The cutting-edge capability of the Insight Platform puts it at the forefront of technology solutions to manage climate-related risks across infrastructure in Africa’s critical industries. We believe the Insight Terra team and its platform can create meaningful impact that aligns with E3’s objectives to invest in companies that drive low carbon solutions for economies in Africa.”
Paula Mokwena, CEO of Fireball Capital, added:
“Fireball is committed to investing impactfully in tech entrepreneurs that will move the needle on helping businesses achieve their ESG objectives, and contribute to the UN’s Sustainable Development Goals – Insight Terra will do just that through its innovative environmental risk management platform and creative leadership and development team.”
With this investment, Insight Terra is poised to enhance its platform’s capabilities, providing industries with sophisticated tools to monitor, measure, and reduce greenhouse gas emissions and manage geotechnical risks. The company aims to play a pivotal role in helping businesses navigate the complexities of environmental compliance and sustainability in an era of increasing climate-related challenges.
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