Meteomatics raises 22 million US dollars
St.Gallen - Meteomatics has raised 22 million US dollars as part of a Series C financing round to support further operational growth. The financing round was led by Armira Growth with the involvement of existing investors.
(CONNECT) Meteomatics, a St.Gallen-based company that specializes in supplying highly precise weather data, has raised 22 million US dollars in a Series C financing round. According to a press release, the financing round was led by the Munich-based investment holding company Armira Beteiligungen GmbH, while existing investors were also involved in the process. With this investment, Meteomatics plans to advance its operational growth and international scaling, as the press release explains further.
This includes the Meteodrones weather technology, which is intended to close a gap in weather data collection. The importance of such data is that precise weather forecasts reportedly allow businesses to reduce costs, drive operational efficiencies and enhance safety in industries such as energy, insurance, agriculture, aviation and automotive.
“The investment from Armira Growth represents a major milestone for Meteomatics, as we can now, as a scale-up with an already successful offering, focus our efforts on additional operational growth and international scaling”, explains Mathias Dörig, CFO of Meteomatics.
“Climate change and extreme weather events demand ever more precise weather forecasts. Meteomatics provides these at unprecedented levels of quality”, comments Florian Tappeiner, Managing Partner at Armira.
Martin Fengler, founder and CEO of Meteomatics, points out that a company’s ability “to accurately predict and prepare for weather threats can make or break their business”.
According to information from the company itself, Meteomatics serves more than 600 businesses and organizations around the world, including customers such as Tesla, Swiss Re, Airbus, Axpo, EDF Energy and NASA. ce/gba