Meteomatics, a weather intelligence and technology company enabling leading companies to forecast the weather’s impact on business accurately, announced its $22 million Series C funding round closing. Armira Growth led the funding round. And Klima (the Alantra Energy Transition fund) and Fortyone also participated in the round.
Over 600 companies, including Tesla, CVS Health, Swiss Re, McCain, NASA, Honda, Airbus, Stellantis, and UK Power Networks, depend on Meteomatics’ high-resolution weather data to make critical business decisions. As extreme weather now happens more often and impacts businesses more severely, Meteomatics is experiencing significant demand from companies across energy, insurance, agriculture, aviation, automotive, and other industries. For these companies, extreme weather is only one concern.
Meteomatics will utilize the funding to scale its operations to meet this growing demand and extend its business further into the U.S. This funding will additionally fuel the innovation of Meteomatics’ weather models and solutions, including the company’s autonomous weather drones and grow the company’s suite of verticalized industry weather solutions.
Last year, 24 weather and climate disasters exceeded a billion dollars in damages. So extreme weather events grow more commonplace and intense, impacting daily lives and business operations will continue to increase. And long-term incremental shifts in climate are also dictating business strategies across several industries.
Government and commercial weather observation technologies lack precision and the ability for companies to effectively detect and forecast weather events created in low-level airspace, such as fog, precipitation, wind, hail, storms, and fluctuating temperatures. This is due to these weather models typically run at wide resolutions of 10-50 km and update only 3-4 times a day. Being able to forecast weather in real time–and over time–directly influences businesses’ ability to predict demand and production needs, identify and manage risks to assets, services and supply chains, optimize earnings and ensure the long-term viability of their business models.
Meteomatics is the only company that can run an hourly weather model at a resolution of 1 km or under a mile, which is fine enough to accurately detect even the most minor meteorological phenomena. The company also first launched this high-resolution model in Europe, dubbed “EURO1k,” and will release its US1k model in Q1 of 2025, covering the contiguous U.S. and Gulf of Mexico at a resolution of 1km.
With access to weather data at this detailed level, companies are able to make more informed business decisions better to navigate the weather’s increasing impact on their operations. This enables businesses to reduce costs, properly plan and allocate resources, drive operational efficiencies, better protect assets and the workforce and increase digital resilience to weather events, and other things.
Meteomatics combines data from 110+ weather data sources, such as aircraft, ground stations, drones, radars, satellites, and its Meteodrones, which gather weather data from the lower and middle atmosphere to provide businesses with the most accurate weather forecasts.
KEY QUOTES:
“Weather-related business risks are no longer something companies need to simply consider; a company’s ability to accurately predict and prepare for weather threats can make or break their business. This is where Meteomatics comes in. We’ve spent over 10 years bringing technology to market that offers the highest precision weather forecasting that businesses can get and sets new global standards for weather data. We’ve attracted some of the world’s most innovative companies along the way, and we look forward to meeting this demand by exponentially scaling our company and technology.”
- Martin Fengler, CEO of Meteomatics
“Meteomatics is uniquely positioned to provide the accurate and sophisticated weather forecasts businesses need to minimize risk and optimize processes across critical industries. We are highly impressed by Martin and the entire Meteomatics team and look forward to being a part of this next chapter to continue building world-class weather products.”
- Florian Tappeiner, Managing Partner, Armira Growth
