WeatherXM, the Web3 climate analysis network, secures $7.7 million in Series A funding

WeatherXM AG, the developer of DePIN (Decentralized Physical Infrastructure Network for Weather), which focuses on weather forecasting, has raised $7.7 million in a Series A funding round led by Lightspeed Faction. Other participants include Protocol Labs, Borderless Capital, Arca, and more. Manolis Nikiforakis, the co-founder and CEO of the company, stated that the board members will remain unchanged after this funding round. The funds will be used to continue developing hardware that supports cryptocurrencies, improve data quality and prediction algorithms, attract third-party weather station manufacturers that support cryptocurrencies to join the network, and strengthen its decentralized efforts.