Climavision, a Louisville, Ky.-based provider of a weather services and intelligence platform, raised $100m in funding.
The Rise Fund made the investment. As part of the transaction, TPG’s Edward Beckley, Steven Mandel, and Mariana Popa, who make climate investments on behalf of the Rise platform, will join Climavision’s board of directors alongside Chris Goode and Co-Founder Colin Cookes.
Formed out of Enterprise Electronics Corporation (EEC), a commercial supplier of weather radar systems majority controlled by the Cookes family, Climavision is a weather services and intelligence platform powered by a private network of high-resolution radars, GPS-RO data, and proprietary software to improve timing and accuracy of weather forecasting and to fill low-level gaps in existing weather surveillance.
By combining lower altitude, proprietary data with machine learning and AI technology, the company’s offering provides high resolution and accurate forecasting to address critical coverage gaps left by existing radar networks across the U.S., the company’s technology and data solutions enable customers across industries including agriculture, drones, government, insurance, logistics, media, renewables, and transportation, to make cost-effective and potentially life-saving decisions in real time.
FinSMEs
04/06/2021