2018 established, Climate-tech startup Blue Sky Analytics, has raised $1.2 million (about Rs 9 crore) in a seed funding round led by venture capital firm Beenext. Rainmatter Capital Pvt. Ltd.

The fintech-focused fund and incubator set up by online stock trading startup Zerodha and Stanford Angels & Entrepreneurs also participated in the funding round, as per industry reports.

The institutional funding for Blue Sky comes just weeks after the startup said it had received $360,000 in prize money from a couple of philanthropic organisations.

Based in New Delhi, Blue Sky Analytics is the brainchild of by Abhilasha Purwar and Kshitij Purwar. The company uses artificial intelligence to analyse satellite data and build environment-monitoring products that have multi-purpose use cases.

It further aims to develop a database for environmental data, similar to multinational financial data and software company Bloomberg. Last year, the startup unveiled a pan-India air quality dataset called BreeZo and it is now working on launching a forest and farm fire management system called Zuri. Clients of the company include small and large enterprises in several sectors and municipal bodies.

Teruhide Sato, founder and managing partner, Beenext, said there is strong potential in the geospatial technology.

Beenext, which started investing in India since 2015, has invested in over 70 Indian startups so far including in payments infrastructure platform YAP, SaaS-based fleet analytics startup Fleetx, logistics-tech startup Loadshare, device management platform Servify, fintech firm Cube Wealth and account automation firm Open.