A Norwegian startup company, 7Analytics, has received €4 million of capital funds to forecast upcoming floods and landslides. Located in Bergen, the company trains machine learning algorithms using extensive data on various topics, such as climate and land use, allowing the AI to predict natural disasters with precise accuracy. 7Analytics’ platform displays these insights and can be used by businesses and governments to assess risks to specific assets. A 7Analytics spokesperson stated that their AI can predict floods and issue alerts 72 hours in advance to allow for necessary measures to protect employees and assets.
In addition, the company has created InzureCloud, a platform for insurance companies to evaluate flood risks and adjust premiums accordingly, potentially benefiting homeowners and insurance companies. 7Analytics has 40 customers and plans to expand in the U.S. with the new funding from Scale Capital, a venture capital fund based in Copenhagen.
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