Startup Using AI For Real-Time Weather Forecasts Raises $87M

An Israeli startup that provides real-time and location-specific weather forecasting for businesses has raised $87 million in its latest funding round. 

Tomorrow.io uses AI to predict the impact of weather conditions on a company’s operations, provide early warnings, and offer suggestions for risk mitigation. 

It has also successfully launched a space-bound satellite equipped with precipitation radar that will deliver samples of what the company calls the world’s “richest and most comprehensive precipitation dataset.” 

The new satellite is the second of its kind, and is part of Tomorrow.io’s plan to launch more than 20 satellites into orbit over the next two years. The satellites are designed to improve weather forecasting for every location on Earth, including over the oceans, serving individuals, businesses and governments. It launched its first satellite in May. 

“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,” said Shimon Elkabetz. CEO and co-founder of Tomorrow.io, after the first satellite launch. 

The $87 million investment was led by Active Capital, and included new investors RTX Ventures, Seraphim, and Chemonics.

Jon Guerster, partner at Activate Capital, said: “We believe Tomorrow.io’s vertically integrated approach and satellite constellation will accelerate a paradigm shift in how millions around the globe use weather to adapt to the impacts of an evolving climate.”

Tomorrow.io’s platform is used by well-known companies, including JetBlue, Uber, and Ford, as well as the United States Air Force. 

The Boston-based company was founded by Elkabetz, CSO Rei Goffer, and CCO Itai Zlotnik in 2016. It has raised over $250 million to date.