Skymet raises series C funding from InsuResilience

Skymet Weather Services today said it has raised a series C round of funding from the InsuResilience Investment Fund.
The proceeds of the investment will help Skymet 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, Skymet said in a release.
The company however did not disclose the amount of investment.
"We are delighted to partner 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.

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 per cent stake in Skymet.
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 rural economy, while DMGT is a multinational portfolio of media, information and events businesses.
The secondary portion of the investment is subject to regulatory approvals, the release said.
EY acted as the exclusive financial advisor to Skymet for this transaction.