dClimate, a decentralized network for climate data, has announced that Mark Cuban has joined the company as an investor and strategic advisor. Cuban’s contributions, made through his venture capital group Radical Investments, are critical to facilitating dClimate’s marketplace launch scheduled for this summer.
Cuban’s investment follows a $3.5 million seed financing round in April led by CoinFund, with participation from Multicoin Capital and Republic Labs. dClimate works to connect businesses and entities with transparent, comprehensive climate data and forecasts from publishers looking for locations to monetize their work product. dClimate’s use of blockchain technology increases access to information, security, accuracy, and the depth of data available – while decreasing costs and time.
“From insurance products that payout based on rainfall data to tools that allow ESG programs to measure carbon footprint, dClimate can be the go-to platform for every organization that uses or builds with climate data,” said Cuban. “I’m excited to be working with a team that is using blockchain and smart contracts to solve a pressing, real-world problem and that is building a platform to help organizations around the world build climate resilience.”
“Climate and weather datasets are crucial to the planning and product infrastructure of so many businesses, governments, and other entities exposed to weather throughout the world, yet this space is highly fragmented and lacks standardization and transparency in many key areas,” said Sid Jha, a founding partner of dClimate. “With damages from weather disasters increasing each year and 70 percent of businesses globally estimated to be impacted by weather, the need for a standardized, user-friendly marketplace that incentivizes greater openness and innovation in the climate data ecosystem has never been greater. We are privileged that an investor and entrepreneur of Mark’s caliber and stature understands the need for dClimate and is committed to help build and grow this network to benefit the many stakeholders who use and rely on this critical information about our planet.”
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