ClimeCast
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
ClimeCast developed software providing AI-enabled financial insights on real-estate decarbonization: helping developers assess compliance with building performance standards, estimate the cost of energy-efficiency upgrades, plan emissions-reduction goals, and identify cost-saving opportunities. It grew out of the University of Illinois iVenture accelerator and initially described itself as offering property-specific insights on insurance rates, nonrenewal risk and mitigation strategies.
02 / ClimeCast FAILURE REASONS
Failure reasons
No public post-mortem was published. What is documented is that ClimeCast remained a two-person student project that raised about $380,000 across accelerator and grant money plus a June 2024 seed round, and was recorded as out of business in August 2025 without having reached commercial scale.
03 / EVENT HISTORY
Events in the structured record
- Founded
ClimeCast was founded in New York and joined the University of Illinois iVenture accelerator's ninth cohort, receiving $20,000.
- Grants and seed round
The company received a $25,000 grant in April 2024 and closed a seed round in June 2024.
- Out of business
PitchBook recorded ClimeCast as out of business in August 2025; the two-person company never scaled beyond its student-project stage.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Raised about $380,000 in total, including a $20,000 iVenture accelerator award in June 2023, a $25,000 grant in April 2024, and a seed round in June 2024.
- 02
Ceased operations in 2025 with a team of two.
- 03
No audited loss figure was publicly disclosed.