July 30, 2024
Montauk Climate spin-off Raad Labs has closed a $2.25 million funding round led by CoinFund. The company is developing a decentralized network of sensors to enhance climate data collection and forecasting.
Raad Labs leverages blockchain technology to create a DePIN (Decentralized Physical Infrastructure Network) that monitors weather patterns, greenhouse gas emissions, wildfire risk, and soil degradation. By incentivizing sensor operators, the company aims to improve the quality and quantity of environmental data available.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Raad Labs | $2.25M | Jul 30, 2024 | Seed | $2.25M | Coinfund | Energy |
The company's focus on high-quality climate data aligns with a growing market need. Accurate weather, air quality, and soil data are essential for businesses, utilities, insurers, and governments to mitigate the impacts of climate change. Raad Labs' technology has the potential to significantly improve wildfire risk modeling and enable more effective disaster prevention strategies.
Founded by Philip Krim, Evan Caron, and Sharo Atmeh, Raad Labs is a pioneering venture from the Montauk Climate incubator. The global forecasting market is projected to experience substantial growth, emphasizing the critical role of accurate weather data.
Raad Labs' DePIN model offers a unique approach to data collection by rewarding sensor operators. This incentivization strategy addresses the current gap in weather data availability and enables the company to build a robust network. The collected data will support various applications, including large language models, AI, and methane detection.
About Raad Labs
Raad Labs is dedicated to revolutionizing the collection and utilization of weather data through a decentralized network of sensors. By leveraging web3 and blockchain technology and a DePIN model, Raad Labs aims to provide high-quality, cost-effective weather data to various industries while offering income opportunities for sensor installers.
Website: https://raad.com/
X Followers: 132
About Montauk Climate
Montauk Climate is an incubator dedicated to creating technology companies that are at the forefront of climate, infrastructure, and energy transitions. Co-founded by industry veterans with deep expertise in finance, energy, and technology, Montauk Climate is bringing world-class operators and established builders to architect the next wave of technology companies that are building a sustainable, electrified, and digitized future. Montauk Climate leverages its vast network of advisors and industry insiders to boost idea generation, deal execution, and talent sourcing. For more information, visit https://montaukclimate.com/.
About Investor
Investor: CoinFund
Description: CoinFund is one of the world's first cryptonative investment firms and a registered investment adviser founded in 2015. The firm champions the leaders of the new internet, powered by foresight as active investors to achieve extraordinary outcomes. CoinFund invests in seed, venture, and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructure.
Location: New York, USA
Website: https://coinfund.io/
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