realestate

GEOX Raises $19M for Climate-Driven Real Estate Risk Assessment Tool

Israeli Startup Uses AI for Automated 3D Analysis of Aerial Imagery to Assess Real Estate Properties and Predict Damage.

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sraeli startup GEOX has developed an AI-powered platform that analyzes real estate risk from climate-related disasters. The company recently secured $19 million in Series A funding led by Flashpoint Venture Capital, bringing its total investment to $23 million since its founding in 2018. GEOX's technology uses artificial intelligence to conduct 3D analysis of aerial imagery, enabling automated and highly accurate assessments of real estate properties.

    This system predicts potential damage caused by natural disasters such as hurricanes, floods, and wildfires. The platform produces comprehensive data-rich insights that include critical property details like location, roof size, type, condition, slope, and more. This information allows insurers to tailor premium rates to each property's structure, value, and risk profile.

    GEOX has partnered with major insurance companies like MunichRe and Sompo, as well as banks and financial institutions, to perform precise real estate valuations and assess damage from natural disasters. The company has experienced 300% year-over-year revenue growth over the past three years, with a significant portion coming from current clients expanding their use of GEOX's platform.

GEOX raises $19 million for climate risk assessment tool in real estate.