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Renew Risk is a technology company.
Renew Risk delivers science-driven risk analytics and specialized products to quantify and manage risks for renewable energy infrastructure. Offerings include catastrophe models, engineering reports, and financial planning tools, all tailored for renewable assets. This approach addresses unique complexities and evolving natural catastrophe risks where traditional modeling is insufficient.
Founded in 2021 by Ashima Gupta, Gaurav Chawla, Joshua Macabuag, and Suby Bhattacharya, Renew Risk emerged from a critical market gap. They recognized conventional models, reliant on historical data, were inadequate for modern renewable assets' novel complexities. This insight drove their mission to develop specialized risk modeling for the growing green energy sector.
Renew Risk serves insurers, investors, operators, and financiers, providing intelligence for informed decision-making and effective risk transfer. Its vision centers on enhancing global renewable energy infrastructure resilience. By delivering tailored risk insights, Renew Risk supports improved planning and pricing, ultimately securing the energy transition toward a sustainable future.
Renew Risk has raised $8.7M across 2 funding rounds.
Renew Risk has raised $8.7M in total across 2 funding rounds.
Renew Risk is a fintech SaaS company providing science-based risk analytics software for renewable energy assets, particularly offshore wind farms. It serves insurers, bankers, developers, and asset managers by offering tools for risk assessment, financial planning, pricing, and capacity planning to future-proof projects against natural catastrophes like storms and earthquakes[1][2][3][4]. The platform addresses gaps in traditional risk modeling, which relies on outdated historical data amid climate change and slimmer project margins, enabling better insurance coverage and financing to accelerate the global energy transition[2][4][5]. With a team of over 20 experts in catastrophe modeling, data science, and engineering, Renew Risk has shown rapid growth since its 2021 founding, backed by investors like Insurtech Gateway (£1.7m seed) and Molten Ventures, positioning it for high-margin SaaS scalability[2][3][5].
Renew Risk was founded in 2021 by four experts passionate about risk analytics for the energy transition: Ashima Gupta (CEO, co-founder), Dr. Joshua Macabuag (Chief Product Officer, co-founder), Professor Subhamoy Bhattacharya (Chief Scientific Officer, co-founder, geomechanics expert from University of Surrey with PhD from Cambridge), and Gaurav Chawla (Executive Chair, co-founder, ex-banker and fintech entrepreneur from IHS Markit)[2][5]. The idea emerged from recognizing the need for specialized models for renewable assets, as traditional insurance tools failed to capture modern risks like those to offshore wind farms; early focus was on catastrophe risk modeling for site selection, portfolio management, and premiums[2][4][5]. Pivotal moments include incubation by Insurtech Gateway, which led a £1.7m seed round with One Planet Capital, and participation in Lloyd's Lab accelerator, building rapid traction with global clients in insurance and finance[5][6].
Renew Risk stands out in the renewables risk management space through these key strengths:
Renew Risk rides the explosive growth of renewable energy infrastructure, fueled by government commitments to net-zero (e.g., offshore wind expansion) and the energy transition's $10T+ investment needs by 2050. Timing is ideal amid rising natural catastrophe risks from climate change, urbanization, and complex assets like floating wind farms, where insurers demand precise modeling to provide capacity—traditional methods fall short, creating a market gap Renew Risk fills[2][3][4][5]. It influences the ecosystem by de-risking financing (e.g., attracting institutional investors via better insurance), accelerating project pipelines, and supporting insurtech innovation through specialized SaaS, as evidenced by backers like Molten Ventures and Lloyd's[3][5][6].
Renew Risk is poised for explosive scaling as offshore wind capacity triples globally by 2030, with its high-margin models expanding to new renewables like solar and hydrogen amid intensifying climate risks. Trends like AI-enhanced modeling and regulatory pushes for resilience will amplify demand, potentially evolving it into a full-stack platform for energy asset management. As a bridge between fintech, insurtech, and cleantech, its influence will grow by enabling trillions in investable renewables, directly securing the energy transition it set out to accelerate[2][3][4].
Renew Risk has raised $8.7M in total across 2 funding rounds.
Renew Risk's investors include Draper Esprit, Insurtech Gateway, Market One Capital, Outrun Ventures, Will Martin.
Renew Risk has raised $8.7M across 2 funding rounds. Most recently, it raised $6.7M Other Equity in February 2025.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 13, 2025 | $6.7M Other Equity | Draper Esprit | |
| Sep 1, 2023 | $2.0M Seed | Insurtech Gateway | Market One Capital, Outrun Ventures, Will Martin |