Meteomatics, the weather intelligence and technology company that enables leading companies to accurately forecast the weather’s impact on business, has announced the close of a strategic funding round from Lockheed Martin Ventures, the venture arm of Lockheed Martin Corporation.
Meteomatics will use the investment to scale its high-resolution weather and climate technology and expand into new markets and industries.
Meteomatics 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.
This is in contrast with current government and commercial weather observation technology that run at resolutions of 10-50 km and are updated only 3-4 times a day, lacking the data to effectively detect and forecast weather events in the low-level airspace.
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 unparalleled accuracy for hyperlocal weather impacts.
Lockheed Martin Ventures makes strategic investments in companies that are developing cutting edge technologies in core businesses and new markets important to Lockheed Martin.
This investment will enable Meteomatics to expand its work in industries including energy, aviation, insurance, defense, governments, and enter new markets.
“Lockheed Martin Ventures identifies companies with transformative technologies that serve the evolving needs of our customers and missions,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures.
“Meteomatics’ weather intelligence has the potential to give the U.S. and its allies a better understanding of the dynamic environments in which assets and personnel operate, both improving operational effectiveness and reducing risk.”
Industry-leading companies rely on Meteomatics’ precision weather intelligence and analytics to make informed business decisions on weather’s impact and better prepare for potential weather-related disruptions.
“We’re expecting a higher number of extreme weather events this year and that number will only climb over the next few years–it’s critical that businesses have access to the most accurate weather forecasts so they can properly plan and make informed decisions about weather impacts,” said Dr. Martin Fengler, Founder and CEO of Meteomatics.
“We are excited to have Lockheed Martin Ventures in our corner as we scale our solutions around the world.”
Meteomatics is headquartered in St. Gallen, Switzerland, with local operations in Germany, Spain, the UK and, most recently, the US.Subscribe to the FINN weekly newsletter
