According to Odaily, WeatherXM, a network that uses cryptocurrency incentives to improve the accuracy of weather forecasts, has successfully raised $7.7 million in a Series A funding round. The funding round was led by Lightspeed Faction, with participation from a host of other investors. These include Protocol Labs, Borderless Capital, Arca, Alumni Ventures, Placeholder VC, Red Beard Ventures, Metaplanet, GS Futures, Consensys Mesh, Westerly Ventures, dlab, Eleftherios Diakomichalis, and Juan Benet.
WeatherXM, headquartered in Greece, is a unique platform that leverages the power of blockchain technology to enhance the precision of weather predictions. The recent funding will likely be used to further develop its technology and expand its services. The company's innovative approach to weather forecasting has attracted a diverse range of investors, demonstrating the growing interest in the intersection of blockchain technology and meteorology.
The participation of a wide array of investors in this funding round underscores the potential of WeatherXM's unique approach to weather forecasting. By using cryptocurrency incentives, the network aims to improve the accuracy of weather predictions, a critical factor in many sectors including agriculture, energy, and disaster management. The successful funding round is a testament to the potential of blockchain technology in transforming traditional sectors.
