Iceberg Data Lab raised €5M from AXA IM, Natixis IM, Sienna Investment Managers and Solactive

Iceberg Data Lab, a Paris, France-based SAAS developer of smart ESG data solutions, announced securing a €5M ($5.9M) series A funding round.

The money was raised from Sweden-based AXA Investment Managers (AXA IM), Natixis IM from France and its affiliate Mirova, Sienna Investment Managers and Germany's Solactive.

Following the investment, each investor will also be represented on Iceberg Data Lab’s Supervisory Board in order to support the development of the company. Proceeds will be used for global expansion and product development which includes data coverage enlargement, automated machine learning and autonomous AI.

Iceberg Data Lab, founded in 2015 by CEO Matthieu Maurin, is a fintech company leveraging state-of-the art data treatment tools and science-based models allowing financial institutions to assess the impact of their portfolios on the environment. Iceberg Data Lab has developed methodologies to calculate the various environmental impacts of issuers and assets throughout their value chain (supply chain to end use).