IBISA Secures $3M to Scale Weather Risk Solutions in Asia and Africa

IBISA, a Climate Insurtech company, has raised $3 million to expand its parametric insurance solutions for weather-related risks in Asia and Africa. The funding round was led by ARAF and Equator, with participation from ADB Ventures and others. This investment will enable IBISA to provide accessible climate insurance to vulnerable communities.

IBISA, an emerging Climate Insurtech leader, has successfully closed a $3 million funding round aimed at scaling its parametric insurance offerings for weather-related risks in Asia and Africa. This substantial investment round was led by The Acumen Resilient Agriculture Fund (ARAF) and Equator, joined by the Asian Development Bank Ventures (ADBV) and other existing investors such as Ankur Capital.

The funds are set to empower IBISA in making parametric insurance more accessible. With global extreme weather events costing agriculture an estimated $10-15 billion annually, IBISA's innovative insurance products offer a valuable solution to mitigate financial impacts on those most affected by climate change. Using cutting-edge satellite and actuarial technologies, IBISA aims to enhance financial resilience in the most vulnerable regions, with a strong focus on India following its local establishment in 2023.

IBISA plans to channel this investment into developing pioneering insurance products and expanding its reach into emerging markets. Maria Mateo, CEO of IBISA, highlighted the company's journey and future goals, emphasizing the move into an industrialisation phase facilitated by this new funding, aiming to broaden product offerings and explore new markets.

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