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# Seed Of The Week: Climate X
- URL: https://www.frenchtechjournal.com/seed-of-the-week-climate-x/
- Published: 2022-04-01T12:15:09.000Z
- Updated: 2022-04-01T12:15:09.000Z
- Description: Climate X helps companies manage their risk exposure to climate change and has attracted several Paris-based angels.
- Author: Chris O'Brien
- Tags: Seed Of The Week

**What:** London-based [Climate X](https://www.climate-x.com/?ref=frenchtechjournal.com) is developing tools to help companies manage their risk exposure to climate change. The main service is Spectra, an on-demand [climate risk data analytics platform](https://www.climate-x.com/spectra?ref=frenchtechjournal.com) that companies can leverage as a SaaS platform or via an API. Spectra calculates a range of risk ratings and potential losses linked to extreme weather and climate change scenarios based on location. 

**Why:** The economic cost of climate change will reach $23 trillion by 2050, according to Climate X. Governments are increasingly requiring companies to include climate risk exposure in their financial disclosures. But quantifying these projections can be a complex undertaking for companies that don't have the tools or the data. The goal of Spectra is to provide a standard and reliable method of calculating this information to help companies and investors make critical decisions.

**Who:** Cofounders are [Kamil Kluza](https://www.linkedin.com/in/kamilkluza/?originalSubdomain=uk&ref=frenchtechjournal.com) and [Lukky Ahmed](https://www.linkedin.com/in/lukky/?ref=frenchtechjournal.com)

**Seed Round:** €5 million.

**Investors:** [CommerzVentures](http://commerzventures.com/?ref=frenchtechjournal.com) and [A/O PropTech](https://www.aoproptech.com/?ref=frenchtechjournal.com) led the round – joined by [Voyagers Climate Tech Fund](http://voyagers.io/?ref=frenchtechjournal.com), [Blue Impact Ventures](http://blueimpact.de/?ref=frenchtechjournal.com), [Deloitte LLP](http://www.deloitte.com/?ref=frenchtechjournal.com). What caught our eye with this investment was the involvement of several Paris-based angel investors: [Kat Borlongan](https://www.linkedin.com/in/kat-borlongan/?ref=frenchtechjournal.com) (former Director at La French Tech), [Renaud Visage](https://www.linkedin.com/in/renaudvisage/?ref=frenchtechjournal.com) (co-founder and former CTO at Eventbrite), and [Vera Elizabeth Baker](https://www.linkedin.com/in/velizbaker/?ref=frenchtechjournal.com) (Venture Partner at Jua Fund and Founder of Colored Girls Who Tech).

**What's next:** Climate X will use the funding for product development and expanding sales and marketing.