Tomorrow.io raises $87 million, launches second weather satellite into space
Tomorrow.io raises $87 million, launches second weather satellite into space
The Israeli-founded company launched its second satellite on the SpaceX Transporter-8 last week as part of its plans to complete a constellation of more than 20 total satellites over the next two years
Weather and climate security platform Tomorrow.io has raised a $87 million Series E. The Israeli-founded startup, which announced last week that it launched its second satellite, R-2, on the SpaceX Transporter-8, said it plans to use the funding to complete a constellation of more than 20 total satellites over the next two years.
The Series E was led by Activate Capital, and included participation from RTX Ventures, Seraphim Space and Chemonics. Existing Tomorrow.io investors, SquarePeg Capital, Canaan, ClearVision, JetBlue Ventures and Pitango, also took part in the round.
Tomorrow.io launched its first radar satellite, R-1, in April, as it aims to further improve its weather intelligence in the current climate crisis. The company provides predictive and actionable insights to such customers as Uber, Delta, National Grid, and more.
Earlier this year, Tomorrow.io also unveiled its weather and climate generative AI tool nicknamed Gale. The feature is currently in use by select customers within Tomorrow.io’s platform leveraging generative AI for specific use cases.
Formerly known as ClimaCell, the company was founded in 2016 by Shimon Elkabetz, Rei Goffer and Itai Zlotnik. The Boston-based company completed a $77 million funding round in March of 2021 led by Stonecourt Capital with the participation of Highline Capital. The company has raised over $250 million to date.
Tomorrow.io announced in December 2021 that it would go public through a SPAC merger in a deal worth nearly $1.2 billion. The merger was supposed to fetch up to $420 million in proceeds for the company. However, like many other SPAC deals, it ended up falling through due to market conditions and was already called off in March 2022.
