Funding

[Funding alert] Switzerland-based Meteomatics Secures an Investment

Feb 3, 2024 | By Startup Rise EU

Switzerland-based Meteomatics secures an investment. The venture capital division of the multinational aerospace and security firm Lockheed Martin Corporation (NYSE: LMT) is called Lockheed Martin Ventures.

Switzerland-based Meteomatics secures an investment. The venture capital division of the multinational aerospace and security firm Lockheed Martin Corporation (NYSE: LMT) is called Lockheed Martin Ventures.

The deal's total value was not made public. With the money, the business will grow into new markets and sectors, such as energy, aviation, insurance, defense, and government, and enhance its high-resolution weather and climate technology.

Read also - Krakow-based edrone Secures €4.6 Million in Funding

Meteomatics is a weather intelligence and technology firm that helps businesses predict the impact of the weather on their operations. Dr. Martin Fengler is the company's founder and CEO. Every hour, it updates a meteorological model with the most recent observations and data at a resolution of 1 km, or street level.

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At this level of visibility, the business is able to recognize even the slightest storms, wind, hail, and other weather phenomena. Meteomatics uses its Meteodrones, weather drones that can fly up to 6 km (20 000 feet) in the air, to gather meteorological data in order to give weather forecasting in the mid and lower atmosphere with this level of precision.

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The company provides businesses with hyperlocal weather impact accuracy by merging data from 110 different sources, including its Meteodrones, with its high-resolution weather models.

About Meteomatics

A weather intelligence and technology company called Meteomatics makes it possible to precisely predict how the weather will affect businesses at any given time and wherever in the world.

Read also - Galway-based CitySwift Secures €7Million in Funding

Meteomatics provides weather data to over 450 businesses, such as CVS Health, Tesla, Swiss Re, Airbus, Toyota, Volkswagen, and EDF Energy. These businesses rely on Meteomatics for energy savings, logistics, process automation, risk management, and product creation, among other things.

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