WorldCover raises $6M round for emerging markets climate insurance – TechCrunch
3 May 2019 2:00 AM GMT
WorldCover, a New York and Africa-based climate insurance provider to smallholder farmers, has raised a $6 million Series A round led by MS&AD Ventures. Y-Combinator, Western Technology Investment, and EchoVC also participated in the round. WorldCover?s platform uses satellite imagery, on-ground sensors, mobile phones, and data analytics to create insurance options for farmers whose crops [?]
- WorldCover, a New York and Africa-based climate insurance provider to smallholder farmers, has raised a $6 million Series A round led by MS&AD Ventures.
- WorldCover's platform uses satellite imagery, on-ground sensors, mobile phones, and data analytics to create insurance options for farmers whose crops yields are affected adversely by weather events-primarily lack of rain.
- With the new funding WorldCover aims to expand its insurance offerings to more emerging market countries.
- WorldCover then uses its data-analytics metrics to assess it, and if approved, the farmer will receive an insurance payment via mobile-money.
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