- The Big Idea / your startup “in a Tweet”: Natural catastrophes have increased by 345% in the last 50 years because of urbanization and climate change, creating an aggregated economic loss of $ 5,2 trillion. Our solution leverages satellite data and proprietary ML algorithms to forecast the probability and impact of specific climate risk events to improve insurance policy creation and prudential disclosure on ESG risks.
- Tell us a bit about yourself, both at work and leisure. I am an innovation enthusiast that has a simple goal: help the companies of today understand the planet of tomorrow. I am the co-founder of Eoliann, a start-up that leverages satellite data and machine learning algorithms to estimate climate risks probability and impact worldwide. I graduated from the MSc in International Management from Bocconi and USYD, after which I developed both strategy (as Associate @ strategy&), corporate entrepreneurship (as Innovation Consultant @ Corporate Hangar, open innovation infrastructure of Prysmian Group) and project management skills (as PM @ Paserio & Partners). But work it is not all and cultivating one’s own passions is as important. During the last few years, I participated to Radio programs, Theatre Courses and volunteering activities while feeding my greatest passion: traveling.
- Which product or service do you offer, and who are your competitors? Eoliann offers an API to banks and insurance companies that, given a specific address, estimates the probability and impact of natural catastrophes (right now just flood, but we aim to become the first complete climate suite) worldwide leveraging satellite data and machine learning algorithm.
- How did you get the business idea and take it from launch to the current stage, including fundraising? The idea was developed during Vento (Venture Builder). Our challenge was to understand how we could leverage the power of satellite data. We analyzed many different sectors from fishery to renewable energy. We decided to enter into the natural catastrophes prediction market for the increasing estimation error made by the leading players and for the amount of losses generated globally, both from a human and economic perspective. We structured our work in different stages:
- Problem exploration
After that, we created the company and we opened our seed fundraising, focusing our effort on the product development. We closed the round in November 2022, and now we are working hard toward the release of the beta version of our API.
5. Any key lessons from your scaling and fundraising journey? I would highlight two main lessons learned:
- Hope for the best, prepare for the worst.
- Choose the right people, they are the secret source for success.
6. What are your plans for the next 6-12 months, and how can our network help? Our goal is to launch our product on the market ready for commercial use and start to work on our Series A round.
7. What’s on your bookshelf? Your favorite place for a coffee or a drink? I read many different books, from Yuval Noah Harari to Thomas Piketty. As a good traditional Italian, I’m a big fan of espresso; but enjoying it in a historical coffee place in downtown Turin has a completely different flavor.