more-inSkymet Weather Services, a weather monitoring company, announced that InsuResilience Investment Fund had acquired a 26.8% stake in the company by investing an undisclosed amount. InsuResilience was set up on behalf of the German government by KfW and managed by Swiss-based investment manager BlueOrchard Finance. Skymet provides climate, weather, and crop analytics to insurance companies, banks, agribusinesses and public sector institutions in India. Skymet has India’s largest network of automatic weather stations (6,000 automatic weather station units) along with the country’s only lightning detection network, which allows the firm to track thunderstorms in real time. “This investment allows Skymet to further expand our capabilities in mitigating weather risks across India,” said Jatin Singh, founder and managing director of Skymet.

Source: The Hindu December 18, 2017 16:18 UTC