Meteomatics, a St. Gallen, Switzerland-based weather company, has raised $22 million in a Series C funding round led by Armira Growth, with participation from Alantra's energy transition fund, Klima, and Fortyone Group, among others. The investment will be used to fuel the company's US expansion and further develop its precision weather forecasting technology.

The company, founded by Martin Fengler in 2012, has established itself as a leader in providing accurate and precise weather forecasts to enterprises. Fengler, a mathematician with a Ph.D. in numerical weather prediction, was inspired to start Meteomatics after realizing the gaps in weather forecasting from a user perspective while working towards his pilot's license. He combined data from over 110 sources, including autonomous weather drones, to create a unique and precise forecasting system that updates every hour and provides predictions for areas as small as one square kilometer.

Meteomatics' technology allows customers to access weather data through an API, enabling them to run their own AI algorithms on top of it. This has proven particularly useful for enterprises, with over 600 customers, including Tesla, CVS Health, and Swiss Re, utilizing the company's weather data to inform their business decisions. Fengler noted that while some use cases for weather data are obvious, such as renewable energy companies predicting outcomes from wind or solar farms, he discovers new and innovative applications almost every week.

The demand for accurate weather forecasting is expected to increase as the impacts of climate change continue to intensify. Climate disasters already cost the US economy $150 billion annually, with businesses shouldering a significant portion of these costs. Meteomatics' precision weather forecasting technology is well-positioned to help enterprises mitigate these risks and make informed decisions.

Fengler emphasized that Meteomatics has intentionally reinvested its profits back into the business over its 12-year history, avoiding the need to raise large amounts of capital. The company typically raises new funding rounds when it has a specific project or initiative in mind, and this Series C round is no exception. The investment will be used to hire a sales and marketing team focused on the US region and to further develop the company's technology.

Fengler's long-term vision is to bring precision weather forecasting, defined as down to a one-square kilometer range, to the entire globe. The company has already achieved this level of specificity across Europe and plans to expand it to the US by the end of Q1. "That remains the North Star for Meteomatics," Fengler said. "It makes me get up in the morning. I strongly believe that we will be able to deliver a global one-kilometer model one day."

With this latest funding round, Meteomatics is poised to make significant strides in achieving its goal of providing accurate and precise weather forecasting to enterprises around the world.