Meteomatics receives capital injection from Lockheed Martin Ventures

13 February 2024 09:22

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St.Gallen/Bethesda - Meteomatics has secured an investment from Lockheed Martin Ventures. With this fresh capital injection, the company, which specializes in supplying highly accurate weather forecasts, intends to expand into new markets and industries.

Meteomatics, a specialist in supplying highly accurate weather forecasts and technology based in the St.GallenBodenseeArea, has closed a strategic financing round with Lockheed Martin Ventures. With this capital increase, the investment arm of the security and aerospace firm, headquartered in Bethesda in the US State of Maryland, is seeking to access the precise and regularly updated weather reports and models supplied by Meteomatics, especially in the near-Earth range, further details of which can be found in a press release. In this context, the company based in St.Gallen provides the latest weather data and observations every hour at a resolution of 1 km, while also achieving a high level of accuracy by using weather drones that are capable of flying at heights of up to 6 km (20,000 feet). This stands in contrast to conventional government and commercial weather models that operate at a resolution of 10-50 km, delivering updated weather reports just three to four times a day.

“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”, comments Dr. Martin Fengler, Founder and CEO of Meteomatics, before adding: “We are excited to have Lockheed Martin Ventures in our corner as we scale our solutions around the world”.

“Meteomatics’ weather intelligence has the potential to give the USA and its allies a better understanding of the dynamic environments in which assets and personnel operate, both improving operational effectiveness and reducing risk”, as Chris Moran, Vice President and General Manager of Lockheed Martin Ventures, explains in the press release. ce/ww

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