Tomorrow.io, a Boston, MA-based weather intelligence and climate adaptation platform, has launched its second satellite R2, and raised $87 million in Series E. The funding will bolster its mission to collect weather and climate data.
The round was led by Activate Capital, with participation from new investors such as RTX Ventures, Seraphim, and Chemonics, as well as existing investors including SquarePeg Capital, Canaan, ClearVision, JetBlue Ventures, and Pitango Growth.
The Series E funding will be utilized to accelerate the completion of Tomorrow.io's satellite constellation, incorporating radar-equipped satellites and microwave sounders.
Additionally, strategic initiatives will be supported to further advance Tomorrow.io's mission of helping humanity adapt to the future of the planet. The company's efforts in this regard were recently highlighted in the documentary "6 Years to Launch."
The company's R1 and R2 satellites, equipped with precipitation radar, provide valuable data for observation and modeling, creating a comprehensive precipitation dataset with a high revisit rate.
Tomorrow.io aims to assist individuals, businesses, and governments in addressing weather and climate-related challenges. Over the next 18-24 months, Tomorrow.io plans to launch additional radars and microwave sounders to complete a constellation of over 20 satellites in Low Earth Orbit (LEO), enabling significant improvements in weather forecasting worldwide.
Company: The Tomorrow Companies, Inc.
Raised: $87.0M
Round: Series E
Funding Month: June 2023
Lead Investors: Activate Capital
Additional Investors: RTX Ventures, Seraphim, Chemonics, SquarePeg Capital, Canaan, ClearVision, JetBlue Ventures, and Pitango Growth
Company Website: https://www.tomorrow.io/
Software Category: Weather and Climate Security Platform
About the Company: Founded in 2016, Tomorrow.io is a Weather and Climate Security Platform equipping humanity with the weather intelligence needed to thrive and adapt in an era of the climate crisis. Through predictive and actionable insights, teams adapt to any weather-related challenge at scale both in real-time and in advance of business impact. Tomorrow.io has attracted global leaders such as JetBlue, Fox Sports, the United States Air Force, Ford, and Uber to rely on Tomorrow.io's weather intelligence for various applications, from early warning systems to operational resilience. The company’s mission is to help countries, businesses, and individuals better manage their weather-related challenges with the best information and insights.
Source: https://www.tomorrow.io/blog/tomorrow-io-successfully-launches-second-satellite-and-closes-series-e-funding/