Understory, the Madison-based startup that analyzes and processes weather data, is raising additional capital to fuel its growth.
According to filings with the U.S. Securities and Exchange Commission, the company is raising $4.1 million from private investments. The company has so far secured $3.5 million from six investors.
Company officials did not offer additional details on how the new funds will be applied.
Current investors in Understory include True Ventures, Madison-based 4490 Ventures, CSA Partners in Milwaukee, and Revolution’s Rise of the Rest Seed Fund.
Founded in 2012, Understory makes solar-powered weather stations that collect weather data to help a range of industries detect risk and make better business decisions. The startup said its weather tech can be used by broadcasting, agriculture, forecasting and risk mitigation companies.
In 2019, the weather tech startup announced it had raised $5.25 million to double staff and move into a new office.
Understory has deployed more than 600 stations within five major metropolitan areas and on multiple continents.
