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Desai Diwanji, Wadia G on Skymet’s Series C fundraise from InsuResilience

Weather forecasting services provider Skymet Weather Services has closed a series C round of funding from the InsuResilience Investment Fund., reported The Economic Times. The amount of investment involved in the transaction remains undisclosed, though as per the report by The New Indian Express, InsuResilience Investment Fund has acquired a 26.8% stake in Skymet along with partial secondary purchase of shares from existing investors, Omnivore and DMGT.

The Desai & Diwanji team acted on behalf of Skymet, its promoters, Omnivore and DMG led by of partner Siddharth Mody and senior associate Rahul Deodhar.

Wadia Ghandy advised InsuResilience, represented by partner Radhika Bhatt and associate Lohitash Sirsikar.

InsuResilience Investment Fund was set up on behalf of the German government by KfW and is managed by Swiss-based impact investment manager BlueOrchard Finance and it is reported that the proceeds of this investment will help Skymet expand its AWS network and secure new business in weather data, crop measurement, climate analytics, and disaster management, thereby extending its outreach to de-risk vulnerable Indian farmers from climate change.

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