Databourg Completes Seed Round Financing with Investment from Asian Development Bank (ADB) Ventures
MANILA, Philippines, Nov. 29, 2023 /PRNewswire/ -- Environmental data analytic startup, Databourg has announced the successful closure of its $1M seed financing round boosted by investments from Asian Development Bank (ADB) Ventures, and a received R&D grant.
Utilizing satellite signals from tens of thousands of existing satellite terminals, Databourg's technology provides real-time weather monitoring that is scalable and cost-effective. The company's innovative technology is based on repurposing existing telecom infrastructure for weather monitoring by leveraging AI using its proprietary algorithms and earth observation data.
"The use of existing infrastructure and transforming them to weather sensors at an affordable price will have a profound impact on developing Asia. We are proud to be part of Databourg's journey from the very beginning and look forward to them becoming an important regional player in the coming years," said ADB Ventures Investment Specialist Jieying Shi.
Asia is a region profoundly affected by climate change, with millions of livelihoods at risk due to severe flooding, drought, and storm surges. Despite this, the area lacks a comprehensive weather monitoring infrastructure, essential for early warnings and effective risk management against extreme weather events and climate change impacts. Recognizing this gap, Databourg is on its mission to prioritize its growth in Asia.
Dr. Ahmad Gharanjik, CEO and founder of Databourg, commented on the investment, saying, "Joining hands with ADB Ventures is truly thrilling for us. This partnership empowers us to strengthen our commitment to help vulnerable regions and communities become more resilient to climate change. Thanks to ADB's vast presence and influence in Asia, we see a unique chance to expand our operations in this crucial region."
Databourg's weather monitoring system is currently up and running in the Philippines. With this investment, the company plans to extend its operation to Indonesia and Sri Lanka by Q1 2024.
For media enquiries, please contact [email protected]
Databourg is an environmental data analytics startup based in Luxembourg. Originating as a spin-off from the University of Luxembourg, the company has developed a novel method for weather monitoring by repurposing telecommunication infrastructure and harnessing the power of AI combined with earth observation data. With a mission to deliver the most accurate and comprehensive rainfall intelligence, Databourg aims to serve businesses and institutions worldwide, positioning itself as "The Rain Company".
About ADB Ventures
ADB Ventures is the Asian Development Bank's venture arm, supporting and investing in early-stage technology companies with the potential to scale and deliver climate impact in emerging Asia. ADB Ventures typically invests across seed and early stages, providing leading technology companies with capital, deep insights, and networks to reduce market entry risks and accelerate operational scale-up. For more information, visit ventures.adb.org
SOURCE Databourg
Share this article