Funding Round attributes
Skyfora, a Helsinki-based company specializing in AI-powered weather technology, has secured €4 million in a funding round to advance its mission of improving global weather forecasting and climate resilience. The funding was led by Danish venture capital firm Ugly Duckling Ventures and Dutch-based LUMO Labs, with additional participation from Voima Ventures and the European Innovation Council (EIC) Fund. This investment will enable Skyfora to scale its innovative weather technology and expand its reach into key markets.
Skyfora focuses on providing enhanced weather intelligence through its patented Telecom GNSS Meteorology solution. The technology repurposes existing cell towers as weather sensors, generating valuable atmospheric data to improve forecast accuracy. This approach allows Skyfora to fill critical observation gaps in weather forecasting by leveraging first-party data from telecom networks, which can help improve resilience in the face of climate change. The company aims to support industries such as disaster response, insurance, aviation, renewable energy, and agriculture by providing real-time, high-resolution weather insights.
Fredrik Borgström, CEO of Skyfora, explained the significance of the technology, particularly in the context of climate change. He noted, “As extreme weather events become more frequent due to climate change, precise forecasting is more critical than ever. Our technology fills critical observation gaps and provides a continuous flow of high-resolution data, which is ‘superfood’ for AI models while enabling mobile network operators to monetize their infrastructure in a completely new way.” The technology not only aims to enhance weather forecasting but also provides a revenue opportunity for mobile network operators without requiring additional hardware investments.
The €4 million funding will primarily be used to accelerate Skyfora’s growth, particularly by scaling its Telecom GNSS Meteorology solution. The company plans to work with industry leaders and expand its product offering to more businesses globally. The funding will also support the expansion of Skyfora’s team as the company works to enhance its capabilities and strengthen its market position.
Linn-Cecilie Linnemann, Partner at LUMO Labs, expressed her enthusiasm for the investment, highlighting the importance of reliable weather data in addressing climate challenges. She said, “Skyfora’s ability to provide critical weather data is a perfect fit with LUMO Labs’ focus on climate action and sustainable cities. As climate change intensifies, reliable weather intelligence becomes increasingly crucial for urban resilience.”
Andreas Green Rasmussen, General Partner at Ugly Duckling Ventures, also emphasized the value of Skyfora’s approach. He stated, “At Ugly Duckling Ventures, a key thesis is that the future of AI relies on the quality of, and rights to first-party data. Skyfora’s commitment to building and utilizing their own first-party datasets sets them apart. Their ability to provide uniquely valuable intelligence in a world increasingly reliant on AI-driven decisions is why we’ve invested.”
The EIC Fund’s participation in the funding round underscores its commitment to supporting innovative companies with the potential to address significant global challenges. Svetoslava Georgieva, Chair of the EIC Fund Board, expressed confidence in Skyfora’s potential, stating, “We are delighted with the EIC Fund’s investment in Skyfora, an innovative company developing next-generation weather intelligence. We believe in the potential of their technology that can save lives and mitigate economic disruptions and financial risks.”
Skyfora’s funding comes on the heels of previous support from the European Space Agency, EIC Accelerator, and Business Finland. The company’s ability to repurpose existing telecom infrastructure and harness AI-driven weather insights positions it as a key player in the growing field of climate technology. As the demand for precise weather data continues to rise, Skyfora is well-positioned to help industries navigate the increasing challenges posed by climate change.
