Latitudo 40 Closes Funding for Climate Risk Platform

Image source: Latitudo 40

Published on July 25, 2024

Latitudo 40, a Naples-based company founded in 2017, has secured a post-seed funding round which according to CorCom exceeds 700 thousand euros with investments from Open Venture S.p.A., CRIF S.p.A., and EIT Climate KIC. Specializing in the use of satellite imagery and AI, Latitudo 40 transforms raw data into actionable models for managing climate risks and enhancing resilience. The new funds will support the company’s international expansion and growth, following a strong performance in 2023 with notable increases in clients and team size.

The company’s platform, EarthDataPlace, launched in 2023, integrates data from various satellite constellations (ESA, NASA, and commercial providers like PlanetLabs and Airbus) into an automated system, offering predictive monitoring and environmental risk management. This service is accessible to a broad range of users, including public administrations and urban planners, providing essential insights for managing climate risks. The market for their technology is expected to grow significantly, projected to reach $146 billion by 2034.

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