Investors are turning to a new breed of high-tech start-ups that can measure the risk climate change poses to real estate — from an hour to decades into the future.
And these firms count major corporations and cities as clients. One of them is Jupiter.
“We’re essentially physically modeling what’s happening with the atmosphere and the water or the fire at a very specific level of detail, and typically at the asset level, which is now only possible because computers have gotten so powerful and relatively inexpensive,” said Rich Sorkin, CEO of Jupiter.
Launched barely three years ago, the Silicon Valley-based company already has over $40 million in investor capital from firms including Energize Ventures, Ignition Partners and Data Collective. It also receives funding from the National Science Foundation and NASA for work in cloud computing and satellite observations.
The company’s primary goal is to incorporate climate impact data on flood, fire, heat, drought, cold, wind and hail events into risk modeling for real estate assets. Its clients include the coastal cities of New York and Miami. […]