PlanetiQ Secures $18.7 Million Series B Financing Round Co-Led by New Science Ventures, AV8 Ventures11 Jul 2019, 18:26 UTC
DENVER, Colorado (July 9, 2019) — PlanetiQ, the high-definition satellite-based weather forecasting and analytics company, today announced it has completed an $18.7 million Series B round of financing.
New Science Ventures and AV8 Ventures co-led the investment round with participation from existing and new investors, Valo Ventures, Kodem Growth Partners, Access Venture Partners, Virginia Tech Carilion Innovation Fund, Hemisphere Ventures, Service Provider Capital, Earth Investments, Moonshots Capital, and a large Kansas City-based family office that wishes to remain anonymous.
The investment brings PlanetiQ’s total funding to $23.9 million. The additional funds will help the company aggressively accelerate the launch of its high-definition radio occultation (HDRO) satellite constellation aimed to revolutionize worldwide weather forecasting by offering highly accurate weather predictions earlier, faster, and cheaper than current technology.
New Science Ventures partner, Vivek Mohindra, and AV8 Ventures managing director, George Ugras, will join PlanetiQ’s Board of Directors. New Science Ventures invests in early and late-stage technology and life-sciences companies that take novel scientific approaches to address significant unmet needs. AV8 Ventures invests in early-stage breakthrough technology companies.
Radio Occultation (RO) is a cutting-edge meteorological technique that determines the attributes of weather (temperature, pressure, water vapor, wind) at all altitudes above ...