WeatherXM raises $7.7M to become the largest weather network in the world

WeatherXM AG, the leading decentralized physical infrastructure network (DePIN) for weather data, today announced the closing of a $7.7 million USD Series A round led by Lightspeed Faction.

As one of WeatherXM's earliest backers, dlab is proud to continue our support of the company with this latest round, alongside other round participants including Protocol Labs, Borderless Capital, Placeholder VC, Consensys Mesh, Arca, Alumni Ventures, Metaplanet, Red Beard Ventures, and GS Futures.

The company produces a variety of weather stations that collect environmental data, for use in hyper-local weather forecasts, weather derivatives, parametric insurance, and other purposes. Operators who install and run these stations are rewarded with the WXM token, the platform's native ERC-20 governance token, which will become tradeable on Uniswap V3 and a variety of centralized exchanges beginning on May 30.

Over the past 2 years, WeatherXM has deployed over 5000 weather stations to over 80 countries. The company will use the fresh funds to continue hardware development, improve data quality and forecast algorithms, and grow the network footprint.