MARKET NEWS

Next in Investing: The Weather

By: Anneken Tappe · February 02, 2024 · Reading Time: 2 minutes

Cloudy With a Chance of Investments

Next up on the frontier of new technology investments are drones designed to forecast the weather.

At least if you ask the venture capital arm of aerospace and defense manufacturer Lockheed Martin (LMT), which has made a multi-million dollar investment into Swiss weather intelligence and technology Meteomatics.

How It Works

Meteomatics makes autonomous drones that measure weather patterns between the ground and 20,000 feet. Not to mention they can ascend and descend at will, making them more flexible than the weather balloons still used by the National Weather Service.

The drones collect weather data and provide climate insights, which it distributes to hundreds of customers, including governments, and companies like Tesla (TSLA), and Volkswagen (VWAGY). Meteomatics has raised as much as $400 million to date.

Read more reporting here .

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