Reask: Innovating Weather Modelling with Artificial Intelligence
Reask, a forward-thinking company specializing in AI-driven weather analysis, secures $6.55m in funding to further enhance its cutting-edge weather modelling capabilities.
Successful Seed Round Led by Prominent Investors
The latest seed round, valued at $4.6m, is co-led by Mastry Ventures and Collaborative Fund, with notable contributions from Macdoch Ventures, Tencent, SV Angel, and Hawktail. This demonstrates the confidence of investors in Reask’s potential to transform the field of weather risk analytics.
High-Resolution Weather Risk Analytics Powered by AI
Reask utilizes AI algorithms and leverages multiple climate data sources to deliver high-resolution weather risk analytics. By learning climate physics, Reask’s proprietary weather modelling algorithms provide dynamic and forward-looking insights into atmospheric risks.
This groundbreaking approach proves invaluable to insurers and asset managers, offering a significant improvement over traditional methods based on static historical statistics.
Expanding Coverage and International Presence
The recently secured funds will enable Reask to expand its hazard coverage and bolster its international team, allowing the company to better serve customers in rapidly growing markets.
With a specific focus on tropical cyclones, which have caused trillions of dollars in economic damage over the past decade, Reask aims to provide comprehensive solutions to address the rising climate risks faced by organizations worldwide.
Addressing the Climate Change Challenge5
As climate change intensifies, the damaging impact of extreme weather events is expected to escalate. Reask recognizes the urgent need for accurate and timely weather information to mitigate risks. By delivering crucial insights, Reask empowers organizations to make informed decisions, safeguard their physical assets, infrastructure, business models, and customers.
Reask’s Commitment to Climate Resilience
Reask has garnered support from industry leaders, including (re)insurance giants AXA and Swiss Re, as well as a Big 4 accounting firm, affirming the company’s mission to promote climate resilience.
By leveraging AI and advanced weather modelling, Reask aims to provide actionable information efficiently and help organizations prepare for potential weather-related challenges before they become urgent and detrimental.