AI machine learning software company Teren raises $ 4 million to fight climate change – geospatial world

Teren, formerly SolSpec, today announced $ 4 million in seed funding, led by Allos Ventures. The AI ​​machine learning software and content company – focused on providing rapid analysis of complex remote sensing geospatial data – also officially announced its rebranding to Teren. This change reflects the company’s focus on analyzing changing landscapes, environmental threats and asset conditions over time using actionable 4D information.

The funding will allow Teren to increase its workforce by 40% to meet the rapidly growing remote sensing market estimated at over $ 13 billion by 2027.

Demand for Teren’s proprietary analyzes has always been strong within the oil and gas industry, which grapples with geological threats such as landslides that can damage pipelines and pose environmental risks. The company is now poised to develop solutions that will enable the insurance, solar energy, environment and transportation sectors to tackle the real issues of climate risk affecting their assets. Teren has developed pre-construction surveys and analysis for solar installations and pre-burn and post-burn analyzes to improve forest fire mitigation and response.

Using its proprietary cloud technologies and machine learning tools, Teren makes huge LiDAR and other Earth observation data sets usable and actionable. The business can quickly identify, prioritize and monitor potential environmental threats, processing data 60 times faster and at a fraction of the cost of other solutions.

“Teren creates turnkey solutions that reinvent the way Earth observation data has traditionally been used,” said Toby Kraft, CEO and co-founder of Teren. “Our customers have long been plagued by the need to identify the source of their data – whether satellite, drone or airborne – as well as the type of sensor, and then hire specialists to analyze the data. We remove all inputs and focus on the business decisions our clients need to make. It’s a whole new way for our clients to assess all the external forces threatening their physical assets.

Teren’s Earth observation data and knowledge is growing to provide more analysis of change over time at scale, thus strengthening its ability to help businesses address growing areas of concern such as climate risk and resilience. This was a big factor in attracting ESG-focused funders such as Allos Ventures, which led the round with its $ 2.5 million investment, as well as Ascent Energy Ventures.

“Teren is leading the way in geospatial software innovations,” said Don Aquilano, co-founder and managing partner of Allos Ventures. “We believe this new standard set by Teren will propel the industry forward while continuing to provide companies with valuable data to move their relationship with the environment and climate risk in a positive direction. “