IBISA has secured $3 million in funding to enhance its parametric insurance solutions for weather-related risks in Asia and Africa, aiming to promote financial resilience amid increasing climate challenges.
Target Information
IBISA, a prominent player in the Climate Insurtech sector, has successfully secured $3 million in funding to enhance its parametric insurance offerings addressing weather-related risks across Asia and Africa. This funding round was led by The Acumen Resilient Agriculture Fund (ARAF) and Equator, with participation from the Asian Development Bank Ventures (ADBV) and existing supporters including Ankur Capital.
With the global economic impact of extreme weather events on agriculture estimated at $10-15 billion annually, IBISA aims to provide accessible and effective parametric insurance products to support communities affected by climate change. The company emphasizes its commitment to India, following the establishment of a local presence in the region in 2023.
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Industry Overview
The insurtech landscape in Asia, particularly within the environmental and agricultural sectors, is witnessing rapid expansion, driven by the increasing frequency and intensity of climate events. Countries in th
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The Acumen Resilient Agriculture Fund (ARAF)
invested in
IBISA
in 2023
in a Seed Stage deal
Disclosed details
Transaction Size: $3M