ESA-backed InsurTech BirdsEyeView, which specialises in natural catastrophe modelling and exposure management for insurers, MGAs and brokers, has raised an undisclosed seven-figure investment round led by 24Haymarket.

Existing backers, including the European Space Agency and ACF Investors, also reinvested.

The funding will support new product development, hiring more climate scientists and expanding the London firm’s footprint in new regions, following 200% turnover growth and recent launches in the US and Australia.

The company’s WEATHER ANALYTIX technology uses large climate and catastrophe datasets with machine learning modelling to improve underwriting accuracy for fast-evolving risks such as wildfire.