ScyAI secures €2M and launches AI risk platform for real assets

Zurich-based startup ScyAI has successfully secured €2 million in pre-seed funding, signaling a significant development in the European tech landscape focused on risk management for physical assets. This investment, led by AENU and co-led by PT1, with participation from notable unicorn founders and angel investors, underscores the growing recognition of the challenges faced by industries managing climate-related risks. The funding will fuel the expansion of ScyAI's innovative AI-powered platform designed to address critical gaps in insurance coverage for tangible assets. ScyAI's platform aims to revolutionize how organizations, particularly manufacturers and energy producers, assess and mitigate climate-related risks. By integrating operational data with advanced hazard models, the platform generates quantified and auditable risk profiles. This granular approach enables companies to present their unique risk characteristics to insurers using metrics that align with underwriter standards, moving beyond broad industry categorizations and regional averages. The implications of ScyAI's solution are far-reaching, directly impacting companies with substantial physical infrastructure by addressing both the affordability and adequacy of insurance coverage. Early adopters have reported tangible benefits, including reductions in insurance premiums and improved coverage terms. This innovation contributes to bridging the protection gap, where natural catastrophes continue to impose significant economic losses, a substantial portion of which remains uninsured due to a lack of specific risk visibility.