ClimaCell, the American weather forecasting platform that is using innovative techniques to collect weather data has raised US$ 23M in a Series C funding round held in July 2020, co-led by new investor Pitango Growth and existing investor Square Peg Capital.
Proceeds from the funding round will be used to expand both its go-to-market efforts and to focus on the basic R&D that makes its platform work. The company also intends to make some updates to its consumer mobile App soon, which they feel helps promote the ClimaCell brand but can also become a market of its own in the future.
The Boston and TelAviv-based startup uses Internet of Things (IoT) to gather maximum weather data from far more places than would otherwise be possible. ClimaCell has also developed a technology to assess how atmospheric conditions affect the signal propagation between cell phones and their base stations. And to further enhance this development, it has also understood how to gather similar data from satellite-to-ground microwave signals.
The company also shares flood alerts for about 500 cities that can provide 24 to 48-hour warnings before major flood events. ClimaCell had combined its weather data with its proprietary hydrological model to achieve the same. They aspire to become the biggest weather technology company in the world.
Their roster of clients includes industries, new economy players, developing countries and people who simply don’t want to get caught in the rain. Their forecasts enable better decisions that impact everything from operations to profitability to safety and quality of life.
The startup was founded in 2015 by Shimon Elkabetz, Rei Goffer, Itai Zlotnik. ClimaCell claims that since the inception of the coronavirus pandemic, they took multiple steps to reduce cost and expand its services due to which they were not desperately in need of new funds, and that the investors itself approached the startup. CEO Elkabetz said, “We didn’t really need to raise money now, but this opportunity came to us and we decided to take it, because it gives us a significant opportunity to invest in strategic things.”
The recent capital boost brings the company’s total funding to almost US$ 100M.
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