Momentick News
8 articles
growth-positive
Momentick secures $5 million to enter insurance space with its emissions risk management solution | CTech
Momentick, an Israeli startup specializing in emissions intelligence, has secured an additional $5 million in funding to enhance its emissions risk management solutions for the insurance industry. The investment round was led by FinTLV Ventures, with participation from Menomadin Foundation and TAU Ventures. Momenticks satellite-based platform offers precise methane detection, enabling real-time emissions monitoring. The company has introduced the first Emissions Risk Management service in collaboration with a leading global insurer, aiming to provide tools for evaluating emissions risks and designing targeted policies. This initiative is seen as a significant advancement in equipping insurers with the necessary tools to address emissions-related risks effectively.
InvestmentPartnersProduct Stage
growth-positive
The Israeli startup’s proprietary satellite-based platform delivers precise, global methane detection, enabling real-time emissions monitoring for risk analysis.
Momentick, an Israeli startup specializing in emissions intelligence, has secured an additional $5 million in funding to launch emissions risk management solutions tailored for the insurance industry. The investment round was led by FinTLV Ventures, with participation from Menomadin Foundation and TAU Ventures. Momenticks satellite-based platform offers precise global methane detection, enabling real-time emissions monitoring. The company has introduced the worlds first Emissions Risk Management service in collaboration with a leading global insurer, addressing the need for reliable emissions data in the insurance sector. This funding follows a successful proof of concept with Sompo Japan, highlighting Momenticks potential to drive innovative insurance solutions and advance sustainability.
InvestmentPartnersProduct Stage
growth-positive
Momentick teams with Sompo to cut greenhouse gas emissions
Japanese insurance giant Sompo has partnered with Israeli startup Momentick to reduce greenhouse gas emissions from Japanese energy production sources, rigs, and gas pipelines. Momenticks technology identifies and measures greenhouse gas emissions using satellite images. The collaboration is part of Sompos efforts to work with Israeli technology companies and could become part of its risk management services. Momentick was founded in 2020 and has raised $7 million in seed financing rounds. The companys services include monitoring specific facilities, large areas, and companies emissions to provide ESG data.
Partners
growth-positive
Momentick chosen as one of the leading startups to be included in Google AI startups program
Google has launched a $4 million AI Startup Fund to support promising startups in Israel. The fund is partnering with startups that are already receiving funding from the Israel Innovation Authoritys fast grant channel. The fund provides equity-free awards and builds a complete program focused on AI and growth strategies to help the startups thrive.
InvestmentPartners
growth-positive
Companies turn to space to tackle emissions on Earth
UK satellite data company Terrabotics is seeing a shift in customer focus from drilling activity to tracking emissions in operations and supply chains. The company, along with others like France’s Kayrros, is looking to serve the growing market for tracking greenhouse gases, particularly methane. Regulations proposed by the EU and US last year require fossil fuel industries to track and reduce methane pollution. Other start-ups, like Israel’s Momentick, are developing algorithms to use data gathered by existing satellites, keeping costs down. GHGSat launched its first CO2-detecting satellite last year, but monitoring CO2 emissions from space is more difficult than methane due to the high background concentration of CO2 in the air.
CustomersExpand
growth-positive
Momentick raises funds to advance satellite-based GHG emission tracking
Momentick, a company specializing in emissions intelligence, has raised $6.5 million in seed funding to improve its emission intelligence algorithm and expand its market reach. The funding round was led by Chartered Group Japan and TAU Ventures, with additional contributions from private investors. Momentick aims to revolutionize greenhouse gas (GHG) emissions monitoring by offering precise identification and quantification of methane and other GHGs on a global scale. The companys services are in demand due to new regulations requiring stringent monitoring of GHG emissions.
Investment
Not applicable
GHG Emissions Regulations: Driving the Global Fight Against Global Warming
The article discusses the urgency of tackling greenhouse gas emissions on a global scale, with a focus on regulatory compliance and Monitoring, Reporting, and Verifying (MRV) mechanisms. It highlights the Inflation Reduction Act (IRA), which aims to reduce US GHG emissions by 40% by 2030, and includes investments in clean energy, efficiency measures, and emissions reduction. The IRA also includes a substantial fee on methane emissions, which will go into effect on January 1, 2024. The article also discusses the upcoming COP28 conference in Dubai, which will focus on emissions reduction investment and regulations. MRV mechanisms are highlighted as a crucial tool in the fight against global warming.
Regulations
growth-positive
14 Israeli startups selected for Microsoft's fourth AI for Good acceleration program | CTech
Microsoft for Startups Israel has launched its fourth cohort, selecting 14 Israeli companies focused on AI-based ventures promoting environmental and social sustainability. The program will provide mentorship, access to Microsoft and Open AIs AI tools, and benefits worth more than $350,000. The selected companies will work on innovative technologies in areas such as climate, foodtech, agritech, and sustainable energy. Microsofts support aims to help these companies improve their technology, create international connections, and realize their full potential. The program will operate in partnership with Start-up Nation Central, ESOP, and Pearl Cohen.
Partners
