Meteomatics raises 13.5m CHF in a Series B financing round led by Klima Energy Transition Fund

01.06.2022 – Swiss based Meteomatics, one of the leading providers of real-time, granular and accurate weather forecast data, successfully raised 13.5M CHF in a financing round led by Klima, Alantra’s Energy Transition Fund in partnership with Spanish gas grid operator Enagás. The round was completed by a leading US-based renewables and utility company.

As a global leader in weather intelligence, Meteomatics provides the most accurate weather data for any location at any time to more than 400 companies worldwide, based on a proprietary in-house technology that provides real-time weather data via API interface. The company’s offering is particularly relevant for the energy industry due to its need for high-quality data to better integrate and use renewable energies in the electricity market. As digitalization and climate change force sectors to undergo structural change, weather data is also becoming increasingly important in industries such as aviation, aerospace, logistics, agriculture and insurance.

Martin Fengler, founder and CEO of Meteomatics, stated “Our customers experience direct value from high-quality weather information in the form of increased efficiency and reduced risk, enabling them to make better decisions every day. Accurate and accesible weather data makes a big difference to our customers by optimizing and integrating the use of renewables, optimizing routes and saving fuel cost or increasing safety on ships and aircrafts”.

“Meteomatics offers solutions for the energy sector focused on the optimal integration of renewable energies into the electricity market, accelerating the transition towards renewables, which is of utmost importance for achieving climate targets. In the case of aviation and insurance, we have developed a customised visualisation tool”, explained Fengler. “Ultimately, weather data can add significant value across industries”.

Furthermore, Meteomatics is the first company in the world to produce autonomous weather drones (“Meteodrones”), which collect data from the atmosphere up to an altitude of 6 km to incorporate it directly into the calculation of weather models. Hence, fulfilling an important data gap in the lower and middle atmosphere, which greatly improves the forecast quality, especially on a local context.

The financing round comes at a time of booming economic conditions for the weather intelligence sector, which has reached an estimated market size value of 11 bn USD, according to the latest data by Grand View Research. Driven by an increased interest from companies in energy efficiency and renewable energy production, and digitalization and big data trends, the global weather market is expected to reach 17 bn USD by 2027, with an estimated growth rate of 9% to 12 % per year.

“The amount raised will enable Meteomatics to further develop the technology to provide even higher value and services to customers, and reach out to new segments and geographies where we are not currently present”, emphasized Manuel Alamillo, Investment Director of Klima Energy Transition Fund. “Based on market trends and the development of Meteomatic’s services and products, we look towards the future with great confidence to further strengthen Meteomatic’s position as a global leader in weather intelligence”.