Alastair Bovim, CEO of Insight Terra. Image: Insight Terra
Leading environmental risk management startup, Insight Terra, has closed its Series A extension funding round at $5.7 million. E3 Capital was at the forefront of the funding round, with participation from Fireball Capital, Atlantic Bridge, Globalive, and JLR Star. The funds raised from the round will be deployed to expanding the company’s AI-driven platform designed to address greenhouse gas (GHG) emissions monitoring and geotechnical risk management.
Insight Terra was founded in 2021, providing real-time analytics and deep insights into environmental risks. The startup is giving businesses power to monitor and mitigate the impact of environmental risks. Industries that have to adhere to international standards and safety protocols form the target market for Insight Terra’s tools which are designed to track and reduce fugitive GHG emissions and manage geotechnical risks.
Climate change in South Africa aggravates the risks to crucial infrastructure. Insight Terra hopes to bridge this converting real-time data into actionable insights and ensure operational safety and regulatory compliance. The company’s platform is believed to have the potential to prevent disasters like Brumadinho dam collapse in Brazil.
“The investment will enable us to accelerate the development and expansion of our platform’s capabilities to tackle complex monitoring, reporting, and verification challenges faced by industries globally,” said Alastair Bovim, Co-Founder and CEO of Insight Terra.
Andrew Darge, E3 Capital’s lead on the transaction, highlighted the significance of Insight Terra’s technology. “The cutting-edge capability of the Insight Platform positions it as a leader in managing climate-related risks across Africa’s critical industries. We believe this investment aligns with E3’s mission to drive low-carbon solutions across emerging markets.”
Paula Mokwena, CEO of Fireball Capital emphasized his confidence in the platform’s potential to advance environmental, social, and governance (ESG) objectives. “Fireball is committed to backing innovative entrepreneurs who address sustainability challenges. Insight Terra exemplifies this mission by transforming environmental risk management.”
Kevin Dillon, Managing Partner at Atlantic Bridge, noted the company’s progress since its initial Series A round. “We are delighted to continue supporting Insight Terra in its next growth phase, recognizing the team’s potential for significant expansion.”
This investment reflects a growing commitment to leveraging technology to tackle climate change-related challenges. The funds will be directed toward scaling the company’s commercial and technical teams, enabling broader adoption of its platform across industries, and enhancing capabilities to meet tightening environmental regulations and investor demands.
