ImpactAlpha, December 14 — Weather disasters in the U.S. caused more than $100 billion in damages last year.
Boston-based Tomorrow.io, formerly ClimaCell, uses data from cellular towers and connected devices to produce hyper-local weather reports for partners such as Uber, Delta and National Grid.
Tomorrow.io is looking to raise $420 million at a valuation of $1.2 billion and list on the Nasdaq by merging with Pine Technology Acquisition Corp., a special purpose acquisition company, or SPAC.
Tomorrow.io is hoping to launch dozens of mini-satellites next year. The 32 satellites will help the company more accurately predict and monitor global weather conditions.