 "Skymet")
Private weather forecasting company Skymet Weather Services has raised about $8-10 million (about Rs 51-64 crore at current exchange rate) from Germany-based InsuResilience Investment Fund. The investor acquired a 26.8 per cent stake, including that of investors, in the company.
The money will be used to widen Skymet’s network of automatic weather stations (AWS) and secure new business in weather data, crop measurement, climate analytics, and disaster management, the company said in a statement on Monday. Though the company didn’t disclose the extent of funding, sources said it would be about $8-10 million.
The transaction also entails a partial secondary
