Renew Risk Raises €5.9M to scale climate risk analytics for renewable energy financing and insurance.

London-based startup Renew Risk has secured €5.9 million in new funding to advance its work in risk modelling and analytics for renewable energy. The funding round was led by Molten Ventures with participation from Lloyd’s, Insurtech Gateway, and angel investors.

Founded in 2021 by Ashima Gupta, Gaurav Chawla, Joshua Macabuag, and Suby Bhattacharya, Renew Risk aims to transform how the renewable energy sector engages with financial markets. The startup creates advanced models that help insurers, banks, developers, and asset managers understand risks like hurricanes, earthquakes, and severe storms.

The company focuses on helping stakeholders assess physical climate risks to assets such as offshore wind farms and solar farms. By offering detailed, data-driven insights, Renew Risk allows better decision-making for insurance coverage, financing, and long-term investment.

Ashima Gupta, CEO and co-founder, expressed optimism about the recent funding. “We are thrilled to have the support of Molten Ventures and Lloyd’s, two powerhouses in innovation and insurance, respectively. This investment will accelerate our ability to build sophisticated risk models for the renewable energy sector, empowering stakeholders to navigate the complex challenges of disaster risk with confidence.”

Renew Risk’s goal is to make the renewable energy sector more resilient and financially accessible by filling a critical gap in risk assessment. Their technology is already used by several insurance industry clients, highlighting the trust and value they’ve built in the market.

George Chalmers, Head of Climate at Molten Ventures, explained the broader impact of the company’s work. “Renewable assets coming online need to be financed and insured. The pace of deployment is being impaired by the lack of appropriate risk modelling for these new assets—leading to risk that isn’t properly quantified and priced. We are delighted to partner with the Renew Risk team as they build out their world leading risk analytics for the renewable energy sector.”

The fresh €5.9 million in funding will support the expansion of Renew Risk’s suite of proprietary risk models and allow the company to grow its team of climate and risk experts. It also supports global scaling efforts, enabling the company to reach more markets with its innovative solutions.

Warren Clegg, Head of Private Assets at Lloyd’s, emphasised the strategic alignment between the organisations. “We are pleased to continue supporting Renew Risk who came through the Lloyd’s Lab, and whose sustainability goals align with ours, as we help our customers to face the challenges of transitioning to lower carbon models. Their solution will help our market and the insurance industry to have greater confidence in underwriting renewable energy projects around the world.”

Renew Risk operates at the critical junction of climate tech, insurance, and finance. By applying deep data science and an understanding of renewable energy infrastructure, the startup is helping to ensure that clean energy projects are both bankable and insurable.

With climate-related risks on the rise, the need for advanced tools that assess and quantify the impact on renewable assets is growing rapidly. Renew Risk funding gives the company the resources to meet this demand and support a more resilient energy future.

This funding round positions Renew Risk to enhance its influence in the renewable energy sector and financial markets alike. By improving access to accurate risk models, the company is enabling a smoother transition toward sustainable energy infrastructure across the globe.

The success of this raise reflects increasing investor confidence in startups focused on climate resilience and financial innovation. As Renew Risk continues to grow, its work will play a key role in shaping the future of risk management for renewable energy assets.

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