South African startup Insight Terra has successfully secured an impressive US$5.7 million in Series A extension funding, aimed at accelerating the growth of its innovative AI-driven platform dedicated to greenhouse gas (GHG) management and environmental risk assessment. This funding marks a significant milestone for Insight Terra as it embarks on its mission to enhance environmental risk management and contribute to a more sustainable future through innovative technology.
Insight Terra specializes in environmental risk management, providing a sophisticated platform that converts intricate data sets into actionable insights. By leveraging real-time analytics, the platform empowers organizations to effectively monitor and mitigate their environmental impacts, thereby enhancing their sustainability initiatives and ensuring compliance with regulatory standards.
The recent funding round attracted investment from notable firms including E3 Capital, Fireball Capital, Atlantic Bridge, Globalive, and JLR Star. This capital infusion will facilitate the expansion of Insight Terra’s commercial and technical teams, enabling the company to scale its support for various global industries. The goal is to assist clients in ensuring the safety of their staff while meeting the stringent requirements set forth by international standards.
Alastair Bovim, co-founder and CEO of Insight Terra, expressed that this investment reflects a robust commitment to leveraging technology-driven solutions to combat climate change. He emphasized that it represents a significant investment in innovation, safety, and the burgeoning climate-tech sector, particularly for extractive industries and beyond.
Bovim stated, “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 pressing need for advanced digital technologies in South Africa, where climate change is increasingly threatening critical infrastructure and, consequently, the well-being of communities and the environment.
He further elaborated, “In a country like South Africa, where climate change is leading to a very real increase in the risks of critical infrastructure failure impacting communities and the environment, there is a compelling case to make better use of digital technology. Real-time monitoring and the conversion of insights into action helps mitigate the risks of negative environmental and human impacts from GHG emissions and geotechnical disasters, such as the 2019 Brazil Brumadinho dam collapse.”
Andrew Darge, who led the transaction for E3 Capital, remarked on the cutting-edge capabilities of the Insight Platform, positioning it at the forefront of technological solutions for managing climate-related risks across Africa’s critical industries. He stated, “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. We are proud to have led this round and join an exceptional investor group.”
