writes that the Toulouse-based startup, backed by the European Innovation Council, offers flood risk alerts and water resource optimization for companies.

The 2.9 million euros financing round was led by Banque de Territoires and MAIF Impact. The need for such a service is obvious given Europe's current climate situation, where at one time we can have droughts and next thing we know, floods are sweeping across the continent.

Jean-Christophe Poisson, co-founder and CEO, said that "our aim is to provide decision-makers with strategic tools and services that will enable them to improve their water management and better forecast extreme weather phenomena such as droughts and floods, major challenges for the safety and resilience of territories."

vorteX-io was the winner of the 2013 EIC Accelerator program and the company also received a 2.5 million euros grant from the European Innovation Council to support the development of the first European real-time hydrological forecasting service.