Haifa-based air quality monitoring company BreezoMeter announced today that it had closed a $30 million Series C funding round led by Fortisimo. The new funding brings its total funding to date to $45 million.
BreezoMeter has developed technology for predicting environmental hazards connected to air quality, such as pollution, pollen and fires, and their effect on human health. Through its technology, BreezoMeter makes this information accessible to billions of people, interfacing with many end-user devices.
The round was led by Israeli private equity investment fund Fortissimo Capital, and Entrée Capital, which has backed BreezoMeter since it was founded. Other existing investors JumpSpeed Ventures, Launchpad Digital Health, AxessVentures, Goldacre Ventures and idinvest Partners also participated in the round.
The company says that the funding will support it as it expands development of its monitoring, forecasting and alert systems for environmental hazards. BreezoMeter says that it is continuing its development of products that transform real-time environmental data into actionable insights, so that individuals can make informed decisions about when to go outside, how to best protect themselves, which travel routes to take, and the best place to reside.
BreezoMeter combines data from many sources - including more than 47,000 sensors worldwide, meteorological data and satellites that track weather, fire and sandstorm events, as well as live traffic information. It detects 17 species of pollen and 34 different pollutants, allowing it to forecast air pollution up to 96 hours and allergens three days ahead of time. BreezoMeter uses AI and machine learning to gather this intelligence in real time and deliver it to consumers at street-level accuracy (within about 5 meters) in over 100 countries.
According to the World Health Organization, more than 91% of the world’s population lives in areas where air pollution exceeds its established guideline limits, and approximately 8.9 million annual deaths are attributed to air pollution."
"Demand for our environmental intelligence has only grown since the pandemic shone a spotlight on respiratory wellness and now, hundreds of millions of people use the information BreezoMeter provides daily," said BreezoMeter CEORan Korber. "Our models predict environmental hazards, like pollen and forest fires, which have a negative impact on respiratory health. We use this data to deliver real-time recommendations so people can avoid these dangers. With this new round of funding, we have more resources to refine and scale our three-part model: data infrastructure, technology and delivery to consumers through connected devices and experiences. We are additionally developing new products that provide people with more control over their health."
Over the next year, BreezoMeter plans to triple its employee roster and create new collaborations with hundreds of international companies.
Published by Globes, Israel business news - en.globes.co.il - on June 28, 2021
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