Meteomatics, a St. Gallen, Switzerland-based weather intelligence company, received an investment from Lockheed Martin Ventures.
Lockheed Martin Ventures is the venture arm of Lockheed Martin Corporation (NYSE: LMT), a global security and aerospace company.
The amount of the deal was not disclosed.
The company will use the funds to scale its high-resolution weather and climate technology and expand into new markets and industries including energy, aviation, insurance, defense, governments, and enter new markets.
Led by Dr. Martin Fengler, Founder and CEO, Meteomatics is a weather intelligence and technology company that enables companies to accurately forecast the weather’s impact on business. It runs a weather model with a resolution of 1 km, or down to street level, updating every hour with the latest weather data and observations. Visibility at this level allows the company to identify even the smallest meteorological phenomena such as thunder, hail, wind and other storms. To provide weather forecasting in the mid and lower atmosphere at this degree of precision, Meteomatics collects weather data using its Meteodrones, weather drones capable of flying up to 6 km (20 ‘000 feet). By combining its high-resolution weather models with data collected by its Meteodrones and 110 other sources, the company delivers businesses accuracy for hyperlocal weather impacts.
More than 450 companies, including CVS Health, Tesla, Swiss Re, Airbus, Toyota, Volkswagen and EDF Energy, use Meteomatics for weather data that can impact everything from energy savings, logistics and process automation to risk management and product design.
The company is headquartered in Switzerland, with local U.S. operations based in Pennsylvania.
FinSMEs
02/02/2024