Skymet weather

Skymet raises Series C round from The InsuResilience Investment Fund

December 20, 2017 12:32 PM |

Skymet raises Series C round from The InsuResilience Investment Fund

Skymet Weather Services has raised a Series C round from the InsuResilience Investment Fund. Set up on behalf of the German government by KfW and managed by Swiss-based impact investment manager BlueOrchard Finance, the InsuResilience Investment Fund has acquired a 26.8% stake in Skymet.

Skymet is India's largest weather monitoring and agri-risk solutions company, with expertise in measuring, predicting, and limiting climate risk to agriculture. Skymet provides climate, weather, and crop analytics to insurance companies, banks, agribusinesses, and public sector institutions in India. Skymet has India’s largest network of automatic weather stations (currently 6,000 AWS units) along with India’s only lightening detection network, which allows Skymet to track thunderstorms in real time. Over the past decade, Skymet has pioneered short, medium, and long-range weather forecasting in India. Through its activities, Skymet is reaching out to more than two million farmers.

The proceeds of the investment will help Skymet to expand its AWS network and secure new business in weather data, crop measurement, climate analytics, and disaster management, thereby extending its outreach to de-risk vulnerable Indian farmers from climate change.

The transaction also entails a partial secondary purchase of shares from existing investors, including Omnivore and DMGT. Omnivore is an impact venture fund that invests in startups from India developing breakthrough technologies for food, agriculture, and the rural economy. DMGT is a multinational portfolio of media, information and events businesses. The secondary portion of the investment is subject to regulatory approvals.

“With large parts of the population active in agriculture, India is particularly exposed to extreme weather events. Skymet has built technologies and instruments to mitigate weather risks, thereby supporting farmers to cope with the consequences of climate change. We are delighted to partner with Skymet in increasing the resilience of poor and vulnerable households in India” says Ernesto Costa, Co-Head of Private Equity at BlueOrchard.

“Climate change is India’s leading national security challenge. Between the year 1900 and 2000, there was one drought per decade in India; but between 2000 and 2017, there have been five droughts and two below-normal monsoons. As climate change accentuates rain variability over the subcontinent, India’s water tables are collapsing and farmer distress is increasing. This investment allows Skymet to further expand our capabilities in mitigating weather risks across India. We are delighted to partner with the InsuResilience Investment Fund and BlueOrchard on this journey. Their knowledge of climate change and insurance makes them an ideal partner for us” says Jatin Singh, Founder and Managing Director of Skymet.

Ernst & Young LLP acted as the exclusive financial advisor to Skymet for this transaction.


For accurate weather forecast and updates, download Skymet Weather (Android App | iOS App) App.

Weather Forecast

Other Latest Stories

Weather on Twitter
Low Pressure in Bay coming up, rains over East, Central and Konkan region to revive. t.co/89YPkUapWA
Tuesday, July 23 17:46Reply
#MadhyaPradesh: #Rain and #thundershowers is likely to affect Katni, Rewa, Satna, Siddhi, Shahdol and Umaria during next 2-4 hours.
Tuesday, July 23 17:06Reply
अगले 24 घंटों के दौरान, असम, मेघालय, उप-हिमालयी पश्चिम बंगाल और सिक्किम सहित बिहार और पूर्वी उत्तर प्रदेश के भागों… t.co/3b4rwi0A9y
Tuesday, July 23 16:48Reply
Nowcast for #MumbaiRains: Short spell intense shower would occur over Navi Mumbai, Lonavala, Vashi and Panvel durin… t.co/jygUYgW6KE
Tuesday, July 23 16:23Reply
#MumbaiRains: #Rain has begun in #Vashi, expect more parts of #Mumbai and Navi Mumbai to see rains t.co/IMCS5oZiNd
Tuesday, July 23 16:17Reply
#MumbaiRains are likely during the next 24 hours, intense rains may be seen in pockets. t.co/yEr3PYxcou
Tuesday, July 23 16:05Reply
Alert: Short spell of #rain and #thundershowers with gusty winds will occur at some parts of #Noida during next 2-3 hours.
Tuesday, July 23 15:59Reply
Alert: Short spell of intense #rains likely in some parts of #Pune, #Raigad and #Thane during next 1-2 hours
Tuesday, July 23 15:58Reply
#DelhiRains: The intensity and spread of #rain is likely to increase by tomorrow, July 24. #Delhi t.co/dGJ48j7JjH
Tuesday, July 23 15:44Reply
Moderate to heavy with very isolated heavy #rains can be seen over parts of #Assam, #Meghalaya, Sub-Himalayan… t.co/ZR2c88Q1xd
Tuesday, July 23 15:22Reply

latest news

USAID Skymet Partnership

Skymet weather

Download the Skymet App

Our app is available for download so give it a try