Why Jelix invested

Acute problem

  • Floods are becoming more frequent and more severe and are now the second costliest natural disasters
  • The World Bank estimates up to 35% of annual flood damages are preventable (e.g. by simply moving boats and cars etc from where flooding is expected)
  • Current flood mapping models are static and based on legacy data and do not show changes in flooding predictions as more data on rising water levels becomes available which would enable more effective damage mitigation and reduce damage costs

Greenfield global and growing market

  • In Australia flood damages are $9b annually, projected to double by 2050 and in the US flood damages are $16b annually, projected to triple by 2100
  • The total addressable market for flood prediction is estimated at $483m in Australia and $8b in the US

Innovative, effective solution

  • Innovative technology providing large-scale, real time flood prediction, enabling timely damage mitigation (e.g. moving cars and boats out of the floodpath) to reduce the costs of flood damage
  • FloodMapp’s real time rapid flood mapping shows real time changes in seconds to areas likely to be flooded, as waters rise, a world first solution enabling cost reduction through more effective damage mitigation
  • FloodMapp’s effective large scale flood mapping does not compromise speed or resolution

Initial evidence of product market fit

  • Customers in the insurance and energy space are paying for pilots
  • Current pilot results show high predictive accuracy for flood inundation areas.
  • The FloodMapp platform provides an effective customer engagement tool to businesses such as insurers

Founding team with domain expertise 

  • Juliette Murphy, the CEO, is a surface water engineer with over a decade of experience in the areas of hydrology, hydraulics and flood modelling. She is backed by a great team of engineers, including Ryan Prosser, their CTO
  • This highly unique combination of skill sets provides a substantial moat around the ability of competitors to develop similar technology

 

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