India-based geo-spatial data intelligence startup, Blue Sky Analytics (BSA) has secured USD 1.2M in a seed funding round led by Venture Capital firm Beenext. Xacmaz Technology Pvt. Ltd operates BSA.
Other participants in the round include Zerodha backed – Rainmatter Capital Private Limited and Stanford Angels and Entrepreneurs. Further, a few week back, the startup had also received USD 360K as prize money from a couple of philanthropic organisations. Last year in June, it had raised USD 320K in a Pre-seed round.
Based in Gurugram, India BSA was founded by sibling duo – Abhilasha Purwar (CEO) and Kshitij Purwar (CTO). While, Kshitij is a college dropout and self-taught developer and Abhilasha is an IIT and Yale University alum with experience in finance and policy.
Blue Sky uses Artificial Intelligence powered infrastructure to analyse satellite data. Also, purposes like retrieve insights on heat index, air quality, flood risk etc uses the data. It also builds multi-purpose environment monitoring products. Furthermore, The aim of BSA is to provide quality and accessible environmental data.
Hence, it is building a database for it similar to multinational financial data and software company Bloomberg. Sources like satellites, ground monitors, IoT devices gather the data.
“At Blue Sky, our goal is to build exemplary data products that can assist global customers in quantifying climate risk and making sustainable investment decisions,” said Abhilasha Purwar.
Nithin Kamath, CEO of Zerodha said, "This is Rainmatter’s first climate-tech investment. Climate change is the single biggest problem humanity should be collectively working to combat. We are very passionate about climate action and would encourage more entrepreneurs to solve climate issues through technology.”
Blue Sky Analytics is currently building datasets on water quality across lakes and rivers, flood and drought risk, extreme weather events, and industrial carbon emissions, which will be released soon.
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