Menu

Reinsurance News

Dutch satellite firm VanderSat announces significant funding

7th April 2020 - Author: Charlie Wood

Dutch company VanderSat has raised several million euros to help further develop their patented satellite technology leveraged by global re/insurance firms AXA and Swiss Re.

VanderSatVanderSat operates internationally and can accurately measure the location and amount of water in the soil, anywhere in the world.

Accurate and reliable data is used not only by large agricultural companies, but also by insurers to calculate the risks and possible damages to crops.

The technology also gives uninsured farmers, for example farmers in remote areas, access to crop data and therefore greater financial security.

“With this investment we are able to make a more substantial impact. We strongly believe that satellite technology will play an important role worldwide in fighting the food and water crisis,” said Thijs van Leeuwen, Chief Executive Officer of VanderSat.

“With the trust and constant feedback of our clients, we can build the best products together. The investment of Social Impact Ventures gives us even more strength and confidence to continue our work.”

Helmer Schukken, Partner Social Impact Ventures, added, “VanderSat’s technology and team provide an essential solution to increase financial stability of millions of smallholder farmers worldwide and to increase the world’s food security.

“The current crisis makes us, as impact investors, even more determined to continue supporting and investing in companies that provide commercial and scalable solutions to the world’s most pressing problems. VanderSat is a textbook example of such company.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Coronavirus to weigh on reinsurer profits & capital: Moody’s

Analysts at Moody’s are expecting the coronavirus (COVID-19) pandemic to create unprecedented disruption in the global economy and to weigh...

Close