Databourg, an environmental data analytics startup, has successfully closed its $1M seed financing round, bolstered by investments from the Manila-based Asian Development Bank (ADB) Ventures and a research and development grant.
The Luxembourg-based company, initially a spin-off from the University of Luxembourg, specializes in innovative weather monitoring. Databourg’s system is already operational in the Philippines, and with the new investment, the company plans to expand to Indonesia and Sri Lanka by the first quarter of 2024.
Its technology repurposes existing telecommunication infrastructure and uses AI with proprietary algorithms and earth observation data to provide scalable, real-time weather monitoring.
This approach to weather monitoring, transforming existing infrastructure into affordable weather sensors, is particularly impactful for developing Asia, a region significantly affected by climate change.
Asia faces severe weather challenges like flooding, drought, and storm surges but lacks comprehensive weather monitoring infrastructure, which is crucial for early warnings and effective risk management.
ADB Ventures Investment Specialist Jieying Shi commends Databourg’s efforts, recognizing the potential impact on developing Asia and supporting their journey to become a significant regional player.
Dr. Ahmad Gharanjik, CEO and founder of Databourg, expressed excitement about the partnership with ADB Ventures. He sees it as an opportunity to enhance their commitment to helping vulnerable regions and communities become more resilient to climate change.
This partnership leverages ADB’s vast influence in Asia, providing a unique chance for Databourg to expand its operations in this key region.
Databourg aims to be “The Rain Company,” serving businesses and institutions worldwide with the most accurate and comprehensive rainfall intelligence by leveraging AI and advanced technology for environmental data analysis.
BusinessTimes Philippines