Renew Risk secures £5m from Molten Ventures and Lloyd's to expand risk modelling platform
The funding round was led by Molten Ventures to support product development and international growth.
Renew Risk provides risk modelling and analytics for renewable energy assets, helping financial markets assess physical hazards. The company connects renewable developers with insurers through proprietary data modelling.
Renew Risk has secured £5m in a funding round led by Molten Ventures, with participation from Lloyd's, Insurtech Gateway, and angel investors. The fresh capital will be directed towards enhancing the firm's risk model suite, growing its team of climate experts, and scaling operations internationally.
The London-based business provides risk analytics for renewable energy projects, helping insurers and financial institutions evaluate physical threats such as hurricanes and earthquakes. The latest investment follows the company's participation in the Lloyd's Lab accelerator programme.
From the founder
"We are thrilled to have the support of Molten Ventures and Lloyd's, two powerhouses in innovation and insurance, respectively. This investment will accelerate our ability to build sophisticated risk models for the renewable energy sector, empowering stakeholders to navigate the complex challenges of disaster risk with confidence."
Ashima Gupta
CEO and Co-Founder at Renew Risk
Investor perspective
"Renewable assets coming online need to be financed and insured. The pace of deployment is being impaired by the lack of appropriate risk modelling for these new assets—leading to risk that isn’t properly quantified and priced. We are delighted to partner with the Renew Risk team as they built out their world leading risk analytics for the renewable energy sector."
George Chalmers
Head of Climate, Molten Ventures
Use of funds
- 01Continue product development
- 02Grow the team
- 03Expand into international markets
Investors
Categories
About the company
Renew Risk
Renew Risk builds risk modelling and analytics software for renewable energy assets.