Norwegian flood risk startup, 7Analytics, has announced a successful funding round of €4 million from Scale Capital, a prominent investment firm.
Founded in 2020, 7Analytics specialises in developing high-precision models for predicting floods and landslides. The startup’s innovative approach to risk assessment has garnered attention within the industry, positioning it as a leader in flood risk management solutions.
With the newly secured investment, 7Analytics plans to expand its operations and enter the lucrative US market later this year. The startup aims to offer its advanced flood risk solution to insurance companies and asset owners, providing them with invaluable insights to mitigate potential risks and enhance decision-making processes.
This funding injection marks a significant milestone for 7Analytics as it continues to grow and innovate in the field of flood risk management.
Jonas Aas Torland, 7Analytics’ CCO and co-founder said: “Flooding has the highest economic impact on society in terms of natural disasters, yet insurers are leaving flood-prone areas because they lack adequate risk information. Through our deeper approach, we are giving insurers data that accurately assess the specific risk of each property.”
