Funding

vorteX-io funding news – Climate Tech Startup vorteX-io Secures €2.9Million in Funding

Jun 11, 2024 | By Startup Rise EU

VorteX-io, a climate tech business based in Toulouse, has raised €2.9 million to deliver hydrological data for sustainable water management during floods and droughts. The Toulouse-based startup provides water resource optimisation and flood risk notifications to enterprises.

VorteX-io, a climate tech business based in Toulouse, has raised €2.9 million to deliver hydrological data for sustainable water management during floods and droughts. The Toulouse-based startup provides water resource optimisation and flood risk notifications to enterprises.

SUMMARY

  • VorteX-io, a climate tech business based in Toulouse, has raised €2.9 million funding.
  • vorteX-io is revolutionizing continental hydrology by offering turnkey solutions for river monitoring, improving flood and drought risk management.

This funding, led by Banque des Territoires and MAIF Impact alongside AFI Ventures – Ventech’s impact fund – and SpaceFounders France, supplemented by bank financing, will enable the company to accelerate the roll-out of its network of connected micro-stations and its Maelstrom platform. vorteX-io aims to become Europe’s leading provider of real-time hydrological field data.

Europe is experiencing an increase in extreme weather phenomena, resulting in a growing number of natural disasters, exposing 11% of the population to the risk of flooding and a third of the territory to water stress. Climate change is prompting governments and institutions to gain a better understanding of water resources in order to manage them more sustainably.

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The 2.9 million euros raised from investors will enable vorteX-io to accelerate the deployment of its network, with a further 2,000 micro-stations by 2026 to model the main European river basins. The company also plans to double its workforce by 2026 to 80 employees, including 10 new hires from 2024. A development supported by its investors, convinced by the positive environmental and societal impact of the solution.

Jean-Christophe Poissonco-founder and CEO of vorteX-io said, “Our aim is to provide decision-makers with strategic tools and services that will enable them to improve their water management and better forecast extreme weather phenomena such as droughts and floods, which are major challenges for the safety and resilience of territories,”.

François Wohrer, Director of Investment at Banque des Territoires, emphasizes: “Against this backdrop of great environmental tension, and with 18 million French people living in flood-prone areas, protecting people and property is a major challenge for our country. It’s in this spirit that we’re supporting the growth of vorteX-io, a Toulouse-based startup whose river monitoring technology is an innovative, high-performance tool for local authorities, and which, by developing employment, contributes to social cohesion.“

Hélène Hannoir, President of MAIF Impact, adds: “Responding to the climate emergency and implementing actions that enable populations to adapt and mitigate the impacts of climate change is at the heart of the strategy of MAIF Impact, the MAIF Group’s impact fund. The vorteX-io project won us over thanks to its degree of technological innovation and its positioning among local players, particularly local authorities. For these reasons, MAIF Impact is delighted to add vorteX-io to its portfolio of innovative start-ups whose business model creates positive impacts for society and the environment.“

For Charles Fourault, Partner at AFI Ventures, “Water tech has long been neglected, but it’s our mission as seed investment funds to understand and support it. The urgency of climate change calls for the creation of new technological solutions adapted to these challenges. vorteX-io is just that. Guillaume and his team had the idea of adapting space technology to create a connected hydrological micro-station to revolutionize river monitoring. Traction, both in France and internationally, proves that this meets a real need, and can only be accelerated.“

Anaïs van Wynsberghe, Investment Manager for SpaceFounders France said, “Strongly rooted in the space domain, vorteX-io’s expertise in altimetry and spatial oceanography is mobilized to meet the climate challenges of continental hydrology. Supported by CNES since its creation, vorteX-io deploys a network of sensors providing high-precision in-situ measurements for satellite calibration and data enhancement. This network also plays a crucial role in protecting critical infrastructures from the risk of land-based flooding,”.

Guillaume Valladeau, President of vorteX-io said, .“This first round of financing testifies to our partners’ confidence in our solution and our ambition to democratize access to real-time hydrological data. Our services address current and future environmental challenges, providing governments and economic players with strategic information in a simple, cost-effective and global way,”

About vorteX-io

vorteX-io is revolutionizing continental hydrology by offering turnkey solutions for river monitoring, improving flood and drought risk management. The company’s offering is distinguished by the unique combination of two major innovations: a connected, autonomous micro-hydrological station based on space technology, and a web-based platform offering a wide range of high value-added services.

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