The German government’s InsuResilience Investment Fund has bought a 26.8% stake in Indian weather monitoring provider Skymet Weather Services. Skymet investors Omnivore Capital and DMGT sold partial stakes in the agri-risk solution provider for an undisclosed sum and will plough the proceeds back into the firm. The company manages one of India's biggest networks of automatic weather stations, presently numbering 6,000 AWS units, and can detect thunderstorm patterns in real time. In India, the government is also investing heavily to improve its ability to predict future climate change.
The German government’s InsuResilience Investment Fund has bought a 26.8% stake in Indian weather monitoring provider Skymet Weather Services. Skymet investors Omnivore Capital and DMGT sold partial stakes in the agri-risk solution provider for an undisclosed sum and will plough the proceeds back into the firm. The company manages one of India's biggest networks of automatic weather stations, presently numbering 6,000 AWS units, and can detect thunderstorm patterns in real time. Proceeds will be used to expand the network and to find new business in the climate analytics, weather data, crop measurement and disaster management sectors.