Meteomatics, a weather intelligence and technology company that enables companies to accurately forecast the weather’s impact on business, has closed a strategic funding round from Lockheed Martin Ventures.
Lockheed Martin Ventures is the venture arm of Lockheed Martin Corporation, a global security and aerospace company.
Meteomatics will use the investment to scale its high-resolution weather and climate technology and expand into new markets and industries, further propelling its mission to revolutionize weather forecasting.
Meteomatics is the only company that runs a weather model with a resolution of 1km, 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 6km (20,000ft).
By combining its high-resolution weather models with data collected by its Meteodrones and 110 other sources, the company delivers businesses impressive 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.
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.
Dr. Martin Fengler, Founder and CEO of Meteomatics, said; “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. We are excited to have Lockheed Martin Ventures in our corner as we scale our solutions around the world.”
Chris Moran, Vice President and General Manager of Lockheed Martin Ventures, said; “Lockheed Martin Ventures identifies companies with transformative technologies that serve the evolving needs of our customers and missions.
“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.”