WeatherXM, a startup founded by Manolis Nikiforakis, Stratos Theodorou, and Nikos Tsiligaridis, aims to improve the accuracy of weather forecasts. Recognizing the importance of accurate weather information for industries like agriculture and disaster prevention, the founders have been working on this mission for the past 12 years.
In 2012, they launched an app that allowed community members to provide grassroots weather updates. They later worked as consultants for weather-sensitive industries like the Athens airport. Now, they are building WeatherXM, a network of community-monitored weather stations that collect and share local weather data using blockchain technology.
WeatherXM has already deployed 5,000 weather stations in over 80 countries. These stations are monitored by volunteers who are compensated with WeatherXM’s own crypto token, $WXM. The collected data is accessible to anyone for personal use, with paid offerings available for commercial use.
The startup recently raised a $7.7 million Series A round led by Faction, a blockchain-focused fund affiliated with Lightspeed. Other investors include Borderless Capital, Alumni Ventures, and Red Beard Ventures. The funding will be used to expand the team and monetize commercial users.
The use of blockchain technology and crypto tokens in WeatherXM’s strategy initially raised questions. However, Nikiforakis explained that the crypto incentive structure is necessary for the network to scale effectively. Paying each person overseeing a weather station would be expensive and complicated. The crypto rewards act as a coordination tool, ensuring the deployment of stations in areas that need them the most.
While some may be skeptical about blockchain and crypto, it aligns well with WeatherXM’s focus on making data open source. Open-source data facilitates collaboration between public and private entities in planning and responding to climate emergencies and disasters.
Making the data open source, especially from stations in underserved or rural areas, can benefit communities fighting climate events with limited resources. WeatherXM’s mission is to create an ecosystem that improves meteorology by challenging the traditional siloed approach and providing access to data for anyone with credentials or payment.
In conclusion, WeatherXM’s innovative approach to weather forecasting and its commitment to open-source data have the potential to improve the accuracy of forecasts and enhance disaster preparedness. By involving communities and utilizing blockchain technology, WeatherXM is paving the way for a collaborative and more effective approach to weather monitoring and prediction.