InvestorQ : Why has Skymet raised funds via the debt route at this point of time?
sara Kunju made post

Why has Skymet raised funds via the debt route at this point of time?

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Mary Joseph answered.
5 months ago
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Skymet is India’s private sector weather forecaster and often competes with the IMF in giving additional information about weather forecasts. In its latest round, Skymet has raised Rs.12 crore in debt funding from Northern Arc and Caspian Impact Investments. Skymet plans to use these funds to boost ground observation so as to get much more accurate prediction of floods and cyclones in East India. That is a vulnerable zone for India.

Forecasting is about mitigating risk and this additional investment in data collection and mining will help to mitigate the risks and provide accurate insights to farmers. This need is more pronounced in East India. The global weather forecasting market is expected to double to $2.70 billion by 2023 with the Indian market already pegged at $100 million.

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