The Rise Fund, TPG’s global impact investing platform, today announced a $100 million strategic investment in Climavision, a pioneering weather services and intelligence platform powered by a private network of high-resolution radars, GPS-RO data, and proprietary software to vastly improve the timing and accuracy of weather forecasting and to fill low-level gaps in existing weather surveillance.
Climavision was formed out of Enterprise Electronics Corporation (EEC), the world’s largest privately held commercial supplier of weather radar systems. EEC, which is majority controlled by the Cookes family, has a 50-year history and more than 1,200 installations across 95 countries. By combining lower altitude, proprietary data with cutting-edge machine learning and AI technology, Climavision’s one-of-a-kind offering provides 10x higher resolution and more accurate forecasting to address critical coverage gaps left by existing radar networks across the U.S.
Climavision also struck an exclusive agreement with leading GPS-RO provider GeoOptics to enhance forecasts by leveraging its private network of radio-occultation satellites. With improved weather nowcasting and forecasting, Climavision’s technology and data solutions enable customers across industries including agriculture, drones, government, insurance, logistics, media, renewables, and transportation, to make cost-effective and potentially life-saving decisions in real time.
“As weather patterns become increasingly unpredictable and volatile due to climate change, the need for higher-quality regional and hyper local weather data has never been more pronounced,” said Climavision Co-Founder and CEO Chris Goode. “Climavision’s increased coverage and improved weather information enables earlier and more accurate weather forecasts that can save lives, limit business disruption, and improve the lives of people and communities across the country.”