Skyfora, a leader in AI-powered weather technology, has raised €4 million in a funding round led by Danish Ugly Duckling Ventures and LUMO Labs, with participation from Voima Ventures and the EIC Fund. This new equity investment builds on recent funding from the European Space Agency, EIC Accelerator, and Business Finland, further strengthening Skyfora’s mission to revolutionize global weather forecasting.
With this funding, the company will accelerate the deployment of its Telecom GNSS Meteorology solution and expand its footprint in key markets.
Skyfora’s patented Telecom GNSS Meteorology solution transforms existing cell towers into high-resolution weather sensors, unlocking vast amounts of private weather data. This breakthrough not only enhances the accuracy of AI-driven weather forecasts, already surpassing traditional numerical models, but also provides a new revenue stream for mobile network operators (MNOs) — all without requiring additional hardware investments.
“As extreme weather events become more frequent due to climate change, precise forecasting is more critical than ever,” says Fredrik Borgström, CEO of Skyfora. “Our technology fills critical observation gaps and it provides a continuous flow of high-resolution data, which is “superfood” for AI models while enabling MNOs to monetize their infrastructure in a completely new way.”
By providing real-time, large-scale weather insights, Skyfora’s innovation benefits societies, businesses, and industries worldwide—from disaster response and insurance to aviation renewable energy and agriculture.
Svetoslava Georgieva, Chair of the EIC Fund Board, says: “We are delighted with the EIC Fund’s investment in Skyfora, an innovative company developing a next-generation weather intelligence. We believe in the potential of their technology that can save lives and mitigate economic disruptions and financial risks. The unique form of financing via EIC - combining grants and equity – is proving itself highly attractive to Europe's most promising start-ups like Skyfora.”
"At Ugly Duckling Ventures a key thesis is that the future of AI relies on the quality of, and rights to first-party data. Skyfora's commitment to building and utilizing their own first-party datasets sets them apart. Their ability to provide uniquely valuable intelligence in a world increasingly reliant on AI-driven decisions is why we've invested. We are very pleased to join them on their journey and co-lead this round with LUMO Labs, " stated Andreas Green Rasmussen, General Partner, Ugly Duckling Ventures.
Linn-Cecilie Linnemann, Partner at LUMO Labs, adds:"Skyfora's ability to provide critical weather data is a perfect fit with LUMO Labs' focus on climate action and sustainable cities.As climate change intensifies, reliable weather intelligence becomes increasingly crucial for urban resilience. Skyfora's use of first-party data and AI-driven approach align perfectly with our investment strategy. By harnessing existing telecom networks to generate exponentially more atmospheric data, they are unlocking new possibilities in climate technology—making this a truly compelling opportunity."
About Skyfora
Skyfora is a trailblazer in weather technology, dedicated to pushing the boundaries of meteorological innovation. The company's patented Telecom GNSS Meteorology solution is a game-changing innovation optimizing the performance of AI weather forecasts improving global climate change resilience and weather-insight across industries.
About Ugly Duckling Ventures
Ugly Duckling Ventures is a Danish-based venture capital firm investing in early-stage Nordic startups across B2B sectors. We seek out founders with unique perspectives and groundbreaking ideas, providing not only capital, but also sufficient time across our seasoned partner team. We believe in the power of the underdog and are committed to nurturing the next generation of Nordic B2B industry leaders.
cloud technology axon
Xcalibur Smart Mapping, recognised as the global leader in airborne...
