Martin Fengler possesses extensive knowledge of meteorology. After earning his PhD in mathematics, specializing in numerical weather prediction, he worked with Meteomedia AG, a network of weather stations in both Switzerland and Germany. However, while he understood forecasting from a mathematical perspective, it wasn’t until he began pursuing his pilot’s license in 2011 that he recognized the significant gaps in weather information from a user standpoint.
“I gained valuable insights into weather forecasting from the viewpoint of the end user,” Fengler shared with TechCrunch. “It’s quite different from approaching the weather forecast as a mathematician who focuses on reducing error metrics. But encountering situations at an airstrip where you cannot take off due to fog or inaccurate forecasts was an awakening experience.”
Inspired by this realization, Fengler established his own weather enterprise, Meteomatics, in 2012. Based in St. Gallen, Switzerland, the company aggregates meteorological data from over 110 sources, while also collecting information from its autonomous weather drones. This diverse array of data enables Meteomatics to refresh its weather forecasts on an hourly basis and make highly accurate predictions for regions as small as one square kilometer.
Meteomatics compiles all of this data in one accessible location and has developed an API that allows clients to utilize the information in various ways, including applying their own AI algorithms. According to CEO Fengler, the capability of Meteomatics to standardize weather data into a single structure, while appearing straightforward, is an impressive accomplishment.
“We tackled complex large files and data formats that are highly specialized within these industries; there’s a lack of standardization,” Fengler remarked. “Introducing APIs in this sector was akin to providing sight to the blind.”
Fengler emphasized that Meteomatics’ commitment to serving enterprises, particularly the commercial sector, distinguishes the company from many competitors that typically focus on media audiences.
“Most weather firms concentrate on the media industry, but that direction didn’t appeal to me,” Fengler explained. “It’s heavily skewed towards television and radio, yet there’s a significant demand from industrial clients, and I’ve always found their challenges fascinating.”
Currently, Meteomatics collaborates with over 600 clients, including major corporations like Tesla, CVS Health, and Swiss Re. Fengler noted that while certain enterprise applications for Meteomatics’ services are clear-cut, such as renewable energy firms utilizing weather data to forecast outputs from wind or solar facilities, others are less obvious, with new use cases emerging almost weekly.
As the effects of climate change become increasingly severe, enterprises will likely seek this data even more diligently. Climate-related disasters incur an annual cost of $150 billion in the U.S. alone, placing a portion of this burden on businesses.
Recently, Meteomatics secured $22 million in Series C funding led by Armira Growth, with participation from Alantra’s energy transition fund, Klima, and FortyOne Group, among others. Fengler indicated that the company has strategically reinvested its earnings over the past 12 years, which has helped it avoid excessive capital raising.
Fengler mentioned that they typically initiate new funding rounds when aiming to invest in specific projects or initiatives. This Series C round is no exception, as the company plans to allocate funds towards expanding its U.S. presence by establishing a sales and marketing team dedicated to the region.
Additionally, part of the funding will be directed towards enhancing the company’s technology. Fengler envisions delivering precision weather data, with a range as specific as one square kilometer, to the entire globe. This level of detail is currently accessible across Europe and is expected to become available in the U.S. by the end of Q1.
“That continues to be Meteomatics’ guiding goal,” Fengler asserted. “It motivates me every day. I genuinely believe that we will achieve our dream of providing a global one-kilometer model someday.”
Compiled by Techarena.au.
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