Tomorrow.io, an Israeli startup specializing in real-time and location-specific weather forecasting for businesses, has secured $87 million in its latest funding round. Utilizing AI technology, Tomorrow.io predicts the impact of weather conditions on companies’ operations, provides early warnings, and offers risk mitigation suggestions.
In an impressive feat, Tomorrow.io has successfully launched a satellite equipped with precipitation radar, paving the way for what the company refers to as the world’s “richest and most comprehensive precipitation dataset.” This satellite, the second of its kind, marks a significant step towards Tomorrow.io’s ambitious plan of launching over 20 satellites into orbit within the next two years. The ultimate goal is to improve weather forecasting for all locations on Earth, including over the oceans, benefiting individuals, businesses, and governments. The company launched its first satellite in May, a notable achievement as until now, only government agencies with substantial budgets and long development times have launched atmospheric radars to space.
Shimon Elkabetz, CEO and co-founder of Tomorrow.io, expressed his excitement about the satellite launch, stating, “Until today, only a handful of atmospheric radars have been launched to space, all built by government agencies with hefty budgets and long development times.”
The $87 million investment round was led by Active Capital and included participation from new investors RTX Ventures, Seraphim, and Chemonics. Jon Guerster, partner at Active Capital, highlighted the potential impact of Tomorrow.io’s vertically integrated approach and satellite constellation, stating that it will accelerate a paradigm shift in how millions around the globe use weather data to adapt to the evolving climate.
Tomorrow.io’s platform has already gained recognition among renowned companies such as JetBlue, Uber, Ford, and the United States Air Force. By leveraging its advanced technology, the Boston-based company provides crucial weather insights to help businesses make informed decisions and mitigate risks effectively.
Established in 2016 by Shimon Elkabetz, Rei Goffer, and Itai Zlotnik, Tomorrow.io has raised over $250 million to date. This significant funding will fuel the company’s ongoing efforts to revolutionize weather forecasting and further enhance their AI-powered solutions, solidifying their position as a leading innovator in the field.
