Investment

SoftBank backs start-up pioneering hyper-accurate weather reports

Wind power/Bloomberg

  • share this article

The investment comes as electrical grids grapple with implications of mounting wind and solar power.

Tuesday 09, April 2019

(Bloomberg) --SoftBank Group is investing $7 million in a weather start-up that combines traditional forecasting with wireless signals, street cameras as well as drones and more to provide hyper-accurate reports for power generators and others.

In a statement, the forecasting company said that it will use the investment from SB Energy, a wholly owned unit of the Japanese conglomerate, to speed deployment of its micro weather system.

Both resources are among the cheapest sources of electricity available but are vulnerable to changes in the weather. that is a problem when weather forecasts are wrong.

Shimon Elkabetz, ClimaCell’s Chief Executive Officer,said “The reason that we have troubling weather forecasts is that we’re using old technology.”

ClimaCell closed $45 million Series B funding round last year, led by Clearvision Ventures.

TAGS : SoftBank Group, ClimaCell, SB Energy

print this article