Hamburg-based climate tech company repath, which offers a SaaS solution for energy companies to manage climate risks and reporting, has raised €3.6 million in a seed funding round led by Lightbird and Greencode Ventures.
- Founded in 2021 at the University of Hamburg by Dr. Thomas Remke, Julius Pröll, Sebastian Bartels, and Liza Altena, repath offers a climate risk and adaptation platform designed for comprehensive asset-level analysis of energy infrastructure. The platform utilizes scientific data to identify specific vulnerabilities, helping energy companies adapt to climate change.
- The startup claims to provide over 400 simulations from regional climate models, analyze more than 13 climate hazards and their impacts, and assess over 11 asset types for comprehensive climate risk evaluation.
Details of the deal
- The seed round was co-led by Lightbird, a Bern-based firm focused on geo investments in Europe, which typically invests in pre-seed and seed stages, occasionally in Series A, with ticket sizes ranging from $250,000 to $3 million. Another co-leading investor was Helsinki-based VC Greencode Ventures, which invests in early-phase, digital-first green transition startups in Europe.
"We believe in repath's mission to empower businesses in the infraconstruction sector to navigate the escalating physical climate risks posed by climate change. We at Lightbird are thrilled to be a part of this journey and support repath's growth as they work to build a more resilient future," Lighbird's team, commented on LinkedIn.
- The round also saw participation from WENVEST Capital, Auxxo Female Catalyst Fund, Nucleus Capital, better ventures, and Triple Impact Ventures.
- Repath plans to use the €3.6 million funding to develop its technologies and strengthen its market position. The capital will focus on expanding the team to enhance asset impact assessments and develop its adaptation AI Co-Pilot, helping customers improve the climate resilience of their energy infrastructure.
