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ICE Unveils Innovative Global Solution to Monitor Financial Risks from Wildfires, Floods, and Emissions
ICE has launched the ICE Global Climate Risk Solution, enhancing climate risk data for over 20,000 global corporations and sovereign states. This platform provides financial institutions with advanced geospatial data to evaluate climate-related vulnerabilities. Key features include building footprint data covering 1.6 billion structures, assessments of exposure to eight climate hazards, and a Hazard Watch feature for real-time monitoring. Larry Lawrence, head of ICE climate initiatives, emphasized the importance of detailed, location-specific insights for investors. The solution aids investment decisions and regulatory compliance by quantifying physical risks and linking them to corporate emissions, addressing the growing demand for climate analytics.
Colesco Secures $839 Million to Fuel Sustainable Investment Growth Across Europe
Colesco Capital, a Netherlands-based direct lending startup founded in 2023, has successfully raised over $839 million in its inaugural funding round. Specializing in senior secured and subordinated debt for mid-market European companies, Colesco is focused on sustainable investments aligned with environmental, social, and governance (ESG) criteria. Key investors include APG and Rabobank, both of which prioritize sustainable strategies. The firm aims to allocate over 50% of its investments in compliance with the EU’s Sustainable Finance Disclosure Regulation, targeting sectors like sustainable food and energy transition. Leadership emphasized the funding’s significance for advancing sustainability objectives in the direct lending market.
Egyptian FinTech Khazna Raises $16M for Expansion into Thriving Saudi Arabian Market
Cairo-based FinTech company Khazna has successfully raised $16 million in a pre-Series B funding round, bringing its total investments to over $63 million. The funding attracted global and regional investors, including Quona and Aljazira Capital. Founded in 2019, Khazna aims to enhance financial accessibility for Egypt’s underbanked population by offering salary advances, digital payments, and microloans to low- and middle-income workers. The new capital will support Khazna’s expansion into the Saudi Arabian market and its application for a digital banking license in Egypt, allowing it to accept customer deposits and improve funding costs.
Revolutionizing Inventory Management: Former Tesla Supply Chain Experts Launch AI-Powered Solution, Atomic
Tesla’s production challenges in 2018 prompted the launch of Atomic, a startup co-founded by former Tesla executives Michael Rossiter and Neal Suidan. Atomic aims to revolutionize supply chain management through artificial intelligence, enhancing inventory planning and operational efficiency. Backed by $3 million in seed funding from DVx Ventures and Madrona Ventures, Atomic’s AI-driven solutions have already helped pilot customers reduce inventory levels by 50% while maintaining a 99% in-stock rate. The company’s flexible approach allows for rapid implementation and aims to support all businesses that sell physical goods, transforming supply chain management in the process.
Net-Zero Banking Alliance Adapts to Empower Banks in Meeting Growing Climate Reporting Requirements
The Net-Zero Banking Alliance (NZBA) has renewed its mandate to enhance support for member banks in aligning with the Paris Agreement’s climate goals. Following a year-long review, the NZBA aims to focus on real economy decarbonization and strengthen banking climate strategies. Chair Shargiil Bashir highlighted the urgency of emissions reduction, emphasizing the alliance’s role in facilitating client collaboration and green investments. The updated strategy allows for diverse net-zero pathways while ensuring accountability to stakeholders. The NZBA is committed to guiding banks through evolving regulations and fostering knowledge exchange to effectively implement their climate strategies.
Endor Labs Secures $93M Funding to Enhance AI-Driven Application Security Platform
Endor Labs has raised $93 million in a Series B funding round led by DFJ Growth, with participation from notable investors like Salesforce Ventures and Dell Technologies Capital. This funding aims to enhance application security, particularly against AI-generated code. Endor Labs protects over 5 million applications and performs over 1 million security scans weekly, serving clients like OpenAI and various financial institutions. The investment will support the expansion of its AppSec platform, incorporating AI for threat detection and vulnerability remediation. The company has seen impressive growth, with a 30x increase in annual recurring revenue since its Series A round.