The new resources will help strengthen the internationalization process and growth of the company
Latitudo 40 – a leading company in the use of satellite imagery and AI to transform raw data into information models and datasets to help companies manage climate-related risks and strengthen resilience – has closed a significant post-seed funding round led by Open Venture S.p.A., a business factory created within the Open Advisory ecosystem and recognized for its commitment to supporting innovative startups with high growth potential, and CRIF S.p.A., a global company specializing in credit reporting and business information systems, with the participation of EIT Climate KIC. This investment follows on from the company’s positive growth in 2023 in terms of clients and teams, and will support the company in accelerating the development of new solutions.
Established in 2017, Latitudo 40 uses AI and machine learning algorithms to extract information to support environmental and climate-related decisions through images captured by Earth observation satellites. The information produced comes from public sector organizations, urban planners and critical infrastructure managers, with the aim of managing climate-related risks and increasing resilience. With the launch of the new EarthDataPlace platform in 2023 (www.earthdataplace.com), several clients in Italy, Europe and North America now have up-to-date information that allows them to detect and respond to critical events, as well as enabling predictive monitoring and environmental risk management. Latitudo 40 can integrate data from different satellite constellations (ESA, NASA, Planet Labs and Airbus commercial constellations, and many others) into a single, fully automated operating platform, thus simplifying access to information content, including for non-expert users of the technology. The company operates in a fast-growing global market with an estimated market value of $14.6 billion by 2034, compared to $6.8 billion in 2024.
Virginia Filippi, President of Open Venture, commented, “Latitudo 40 impressed us with the professionalism and skills of its entire team, representing an innovative yet simple and accessible response to the pressing innovation needs shared by an entire industrial ecosystem. We believe that Latitudo 40 is uniquely positioned to help companies navigate the challenges posed by climate change and drive a more sustainable future for everyone.”
“As a global company specializing in credit reporting and business information systems, CRIF believes in Latitudo 40’s mission and vision to develop services for the environment and to tackle climate change. Our investment is aimed at strengthening collaboration, developing new products and creating opportunities alongside clients. We recognize the significant value that the Latitudo 40 team and solutions bring to the company, and we are confident that with the presence of CRIF Group in more than 40 countries, we will also be able to accelerate the growth of Latitudo 40 internationally. Latitudo 40 is a key player in the CRIF CVC portfolio, which includes over 20 startups that we have invested in and have been working with since 2017. Hence the decision to make this second investment, increasing our share as investors,” commented Natalia Shchelovanova, CRIF Global Open Innovation and Startup Ecosystem Director.
Gaetano Volpe, co-founder and CEO of Latitudo 40, added, “Our mission at Latitudo 40 is to harness the power of satellite data to protect our planet and make industries more sustainable. The new funding will accelerate this mission and allow us to continue to help businesses around the world tackle the growing list of climate, environmental, technological and regulatory risks. Looking to the near future, we see the EU Deforestation Regulation (EUDR) as creating the first mass market for Earth observation analysis with millions of users, and we have a solution in place that will simplify the process of monitoring deforestation for companies on a global scale with a huge benefit for operating processes and for the endangered ecosystems of our planet.”
Open Venture obtained legal advice from the international law firm Gianni & Origoni, with a team coordinated by Partner Silvia Bordi and Managing Associate Giovanna Dimita. Latitudo 40 obtained legal advice from the law firm LMRC, with a team coordinated by Partner Angelo Romano assisted by Associate Marta Chiaffoni. The transaction was managed for CRIF by its INNOVECOS team and with the support of its legal department.
