SB Energy, a subsidiary of SoftBank Group, has made an investment of $7 million in ClimaCell, a weather technology start-up company.
The company did not reveal specific details about the equity stake. Shimon Elkabetz is the CEO and founder of ClimaCell.
ClimaCell uses the infrastructure of the connected world ‐‐ wireless signals, connected vehicles, satellite‐to‐ground microwave signals, street cameras, IoT devices, airplanes and drones ‐‐ together with traditional meteorological data sources, to provide location‐specific, and on‐ demand weather forecasts to any industry.
SB Energy has invested in ClimaCell to bring its weather forecasting system to the renewable energy industry, which is dependent on weather and accurate forecasting.
SB Energy will explore new business opportunities globally by deploying ClimaCell’s weather forecasting systems especially at the intersection of renewable energy, IoT and mobility.
“ClimaCell’s hyper‐accurate weather forecasting technology will bring significant benefits not only to renewable energy but also to other industries and people’s lives,” said Shigeki Miwa, CEO of SB Energy.