Homeowners are looking for new tech that can harden their properties against natural disasters that are increasing in frequency as a result of global warming.
Nearly $26.7 billion has been invested in climate tech in 2021 through November, up from $15.3 billion in 2020 and $11.8 billion in 2019, according to PitchBook.
"It was just a shocking scene," Arora said. "The day after, we just sat down and discussed it and said, 'You know what? We're going to rebuild.'" In August, the United Nations' climate panel delivered a dire report calling for immediate action. The agency warned that limiting global warming to close to 1.5 degrees Celsius or even 2 degrees Celsius above pre-industrial levels "will be beyond reach" in the next two decades without rapid and large-scale reductions in greenhouse gas emissions. The report said that at 2 degrees Celsius, heat extremes would often reach critical tolerance thresholds for agriculture and health.
The Frontline Wildfire Defense system uses sprinklers, each capable of shooting water and foam up to 30 feet in every direction, to help homeowners combat wildfires.The point of Frontline's system is to wet down a property, hydrating the combustible vegetation surrounding a home and the building material, making it less likely to light up if a fire approaches, Statter told CNBC. The system can be activated by flipping a switch within the home, or through a Frontline mobile app.
"It is an emotional investment and a financial investment. Our kids grew up there attached to it," Arora said. "You want to make sure that you're doing everything you can." Firemaps creates a 3D model of the home and presents the homeowner with a list of recommendations. After the homeowner decides which ones to accept, Firemaps puts the jobs up for bid to its network of contractors, all of whom it has previously vetted. Firemaps doesn't charge homeowners for the service, but instead takes referral fees from the contractors.
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