Mitiga Secures €8M Series A Funding for EarthScan Platform

Mitiga Secures €8M Series A Funding for EarthScan Platform

Liora Kovač
2 min read

Mitiga Secures €8M in Series A Funding to Expand EarthScan Platform

Madrid-based data analytics startup Mitiga has successfully raised €8M in a Series A funding round led by Elaia, aiming to expand its operations across Europe. This initiative comes in response to new regulations mandating companies to disclose climate risks, highlighting the growing significance of climate risk analytics in today's business landscape. Mitiga's SaaS platform, EarthScan, leverages advanced climate science and data modeling to help businesses analyze and mitigate their exposure to extreme weather conditions, offering valuable insights across various climate scenarios and time horizons. The technology is particularly beneficial for sectors like manufacturing, retail, and real estate, assisting in strategic location planning and due diligence.

This funding round also saw participation from prominent investors such as Kibo Ventures and CREAS Impacto, emphasizing the increasing need for tools that aid companies in understanding and reporting their climate risks. Mitiga's CEO, Alejandro Marti, emphasized the escalating regulatory and stakeholder pressure for climate risk disclosure, positioning EarthScan as a critical tool amidst these evolving demands.

Key Takeaways

  • Mitiga raises €8M in Series A funding led by Elaia.
  • The funding will support Mitiga's expansion across Europe.
  • Mitiga's EarthScan platform analyzes climate risk for various industries.
  • Investors include Kibo Ventures and CREAS Impacto.
  • EarthScan is available globally through Microsoft's App Source.


Mitiga's €8M funding underscores the rising demand for climate risk analytics, driven by regulatory shifts and stakeholder expectations. This influx is expected to accelerate Mitiga's European expansion, benefiting industries that require strategic location planning under climate uncertainty. Investors such as Elaia, Kibo Ventures, and CREAS Impacto anticipate substantial returns from this growing market. Consequently, the adoption of EarthScan could strengthen corporate resilience and transparency, significantly influencing investment decisions and regulatory compliance. On the other hand, non-adopters may encounter heightened operational risks and reputational challenges.

Did You Know?

  • Series A Funding: Series A funding is the first round of financing extended to a startup after its initial seed funding. This round primarily focuses on expanding market reach, enhancing product development, and increasing operational capabilities. Investors in Series A rounds often receive preferred stock in the company as part of their investment.
  • SaaS Platform (Software as a Service): SaaS is a software distribution model where applications are hosted by a vendor or service provider and made available to customers over a network, usually the internet. This model enables users to access software from any device with an internet connection and a web browser, eliminating the need to install the software on their devices. SaaS platforms are renowned for their scalability, ease of maintenance, and subscription-based pricing models.
  • Climate Risk Disclosure: This practice involves reporting the potential impacts of climate change on a company's operations, financial performance, and strategic planning. It encompasses physical risks (such as damage from extreme weather events) and transition risks (such as changes in policy or market preferences as the world shifts to a lower-carbon economy). Regulatory bodies and investors increasingly demand such disclosures to evaluate a company's resilience and sustainability strategies.

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