Extreme weather and climate risk management firm Jupiter Intelligence announced on Tuesday that it is picking up a major new Japanese investor, venture capital fund mPower Partners, to launch an Asian expansion.
big picture: The total investment hasn’t yet been disclosed, but Jupiter’s co-founder and CEO, Rich Sorkin, told Nerdshala that it’s “significantly higher” than the total investment used to build Jupiter so far, which puts it above $40 million.
description: Venture Investor is Japan’s first ESG-focused global VC firm, and according to a Jupiter press release, First female led VC firm in Japan. Together with Clearvision Ventures, mPower is leading a new funding round at Jupiter, which will be announced in the coming weeks, the company said.
- Jupiter, which already does business in Japan, will open a regional office there.
Reference: Jupiter is looking to deepen its work with MS&AD Insurance Group, which is both a Jupiter customer and investor, and Sumitomo Mitsui Banking Corp., one of Japan’s largest banks.
Between the lines: Jupiter’s competitors in risk analysis and resilience include Demex, Cervest, Tomorrow.io and The Climate Service. Moody’s did too going to this space.