IBISA Raises $3 M to Scale Parametric Insurance Solutions, ​Strengthening Climate Resilience Across Asia and Africa

IBISA, a Climate Insurtech company, has closed a $3 million funding round to scale its parametric insurance solutions for weather-related risks in Asia and Africa. The round was led by The Acumen Resilient Agriculture Fund (ARAF) and Equator, alongside the Asian Development Bank Ventures (ADBV) and existing investors including Ankur Capital. This strategic investment will empower IBISA to make parametric insurance more accessible. 

With the global cost of extreme weather events on agriculture estimated to be between $10-15 billion annually as reported by the Food and Agriculture Organization of the United Nations, IBISA is providing simple and efficient parametric insurance products to help those affected by the climate crisis. Leveraging innovative satellite and actuarial technologies, IBISA designs and operates parametric insurance products that promote financial resilience in regions where communities are the most vulnerable to the impacts of extreme weather events. The company is placing a special emphasis on India, since establishing a local presence there in 2023.