Led by Congruent Ventures, with additional investments from Montauk Climate, Generation Space (US arm of Seraphim Space), and private funders, the financing will accelerate the nationwide rollout of Adaptive Insurance's innovative parametric insurance products, starting with its flagship product, GridProtect.

Adaptive Insurance is building an AI-driven platform that helps U.S. businesses create resilience against climate and weather-events, starting with its suite of parametric insurance products. Adaptive recognizes that increasing weather events, bigger gaps left by traditional insurance, and an aging infrastructure leave consumers paying the price. It addresses the growing demand for solutions by using the simplicity of parametric insurance - verified data-driven trigger events, agreed-upon payment amounts, and quick payouts - to help create a safety net against the unpredictable events that impact businesses.