SoftBank-backed ClimaCell raises new funds for weather forecasts
ClimaCell Inc., a Boston-based startup that aims to create hyper-accurate weather reports, has raised $23 million from investors. The fund raising comes as the company reorients its business model away from serving pandemic-stricken airlines and restaurants, and toward providing data on supply chains and infrastructure.
The funding round was led by Square Peg capital, Australia’s largest venture capital firm, and Pitango Venture Capital. ClimaCell is also backed by SoftBank Group Corp.
Shimon Elkabetz, ClimaCell’s co-founder and chief executive officer, said the startup hadn’t been looking to raise fresh funding. “We decided to take it because we believe we know what to do with the money,” Elkabetz said. “We know how to grow our sales in the next few years. We have exciting R&D projects we want to invest in.”