Meteomatics, a Swiss weather intelligence firm, has successfully completed a $22 million Series-C funding round, with Armira Growth leading the investment. The company specialises in forecasting the impact of weather on various industries and plans to leverage this latest funding to expand its operations in the United States, where there is an increasing demand for real-time insights into hyperlocal weather events, particularly those driven by extreme weather conditions.
The need for precise weather data has become critical as extreme weather events have become more frequent and severe, affecting a wide array of industries including energy, insurance, agriculture, aviation, and automotive sectors. Meteomatics reported a marked increase in demand from these sectors, attributing it to the significant impacts these weather events can have on business operations and offerings.
According to the National Centers for Environmental Information, the U.S. faced 27 confirmed climate-disaster events in 2024, each resulting in damages exceeding $1 billion. The World Economic Forum points out that businesses that fail to adequately adapt to weather and climate risks might face potential earnings losses of up to 7% annually by 2035.
Meteomatics has noted that existing government and commercial weather observation technologies lack the necessary precision and efficiency to effectively identify and forecast low-level airspace weather phenomena such as fog, precipitation, and storms. Current models typically operate at resolutions of between 10 km to 50 km and only update a few times a day. In contrast, Meteomatics has developed a weather model that offers hourly updates with a resolution of just 1 km, allowing for accurate detection of even minor meteorological changes.
The importance of accuracy is underscored by Meteomatics, which estimates that even a slight 1% difference in weather forecast accuracy can lead to economic losses worth several million dollars each year. Such precision is vital for estimating energy contributions to the grid across various locations and timings.
Founded in 2012 by Martin Fengler, following an incident of turbulence during a flight that highlighted the need for hyperlocal weather forecasts, Meteomatics aims to innovate the field of weather forecasting. The company utilises a cutting-edge forecasting engine alongside unexploited weather data gathered by Meteodrones. These drones, managed by the company’s pilots, collect atmospheric data, which plays a crucial role in enhancing weather model calculations by providing high-resolution readings on temperature, humidity, pressure, and wind.
Meteomatics established its presence in the United States with operations based in Exton, Pennsylvania. In 2023, the firm began offering its technology and data to traditional and renewable energy sectors in the U.S., which is intended to assist users in managing energy outputs and optimising financial outcomes while navigating challenges posed to the power grid.
Moreover, Meteomatics' forecasting capabilities extend to predicting potential weather-related threats to power plant infrastructure. Severe weather events like wildfires and hurricanes can jeopardise transmission lines, while droughts pose risks to hydropower reservoir levels. The company asserts that accurate weather forecasts can enhance the protection of both consumers and infrastructure, thereby mitigating operational disruptions.
Source: Noah Wire Services