ClimaCell, a Boston-based weather technology startup, has raised $15 million in Series A venture funding.
The company provides high-definition weather forecasting tools to businesses and governments, with an eye on local predictions. Insurance, aviation, financial services, logistics and defense are among its target markets.
ClimaCell creates proprietary weather observation data from wireless networks that feed into its models, leading to predictions that are local down to city-block-level granularity. The predictions are in real time and at one-minute intervals 0-6 hours into the future. The company’s products so far include HyperCast, a web-based interactive HD weather map with “street-level precision,” and BroadCast API, which is designed to integrate ClimaCell’s weather sensing technology with other digital enterprises or to be offered as part of any SaaS-based (software as a service) product.
Canaan led the financing round, but Fontinalis Partners also participated along with existing investor Square Peg Capital. Plans call for using the money to quicken ClimaCell’s expansion outside of the U.S., boost product development efforts and hire additional people.
“The ClimaCell team is excited about the opportunities in the market and the ability to rapidly scale our technology worldwide,” ClimaCell CEO and co-founder Shimon Elkabetz said in prepared remarks. “We are thrilled about the support and confidence we received from our investors and look forward to continuing to provide the most accurate weather data technologies to our customers.”
Source: ClimaCell