Shamrock Ventures backs Dutch-based Meteory in €550K round: Know more

The Netherlands-based Meteory, a SaaS startup that harnesses satellite data to track critical environmental changes, announced that it has secured €550K in a pre-seed round of funding.

The round was led by Shamrock Ventures, a venture capital firm that specialises in sustainable technology investments. Its €10M pre-seed and early-seed impact fund focuses on areas such as circular economy, cleantech, sustainable mobility, and food & agritech.

The round also saw participation from Le Stud, a European startup studio. HEARTFELT_/APX, Campus Fund and experienced Angel investors (undisclosed) also joined the round.

Tommy Hurley, Managing Partner at Shamrock Ventures, says, “Meteory’s innovative approach to environmental sustainability is exactly the kind of investment opportunity we look for.”

“We believe in the potential of their technology to accelerate the progress toward carbon neutrality, and we are excited to support them as they continue to grow and succeed,” adds Hurley.

A monitoring platform to understand carbon-related issues

Governments and businesses should act now to move towards a decarbonised and greener future. To achieve this, detailed information and understanding of the carbon cycle and other environmental indicators are required.

And this is where Meteory looks to make a difference.

Founded by Alexandre Larroumets and Pierre Blanchet, Meteory uses machine learning and data analytics algorithms to assist businesses and organisations in better understanding their environmental effect and finding areas for improvement. 

The company’s solutions give consumers an awareness of their changing environmental situation, allowing them to track, plan, and analyse.

“We want to put environmental data at the root of every decision. Bringing key insights to everyone, to make the most informed decision for your company, your government or personal purpose,” says Meteory.

The company enables its partners to monitor environmental indicators with decades worth of archived data, high frequency, and high resolution. This helps monitor their nation’s progress towards carbon neutrality, allowing them to identify possibilities and threats inside their borders.

With this data, they can formulate plans and put them into action based on precise and reliable insights.

“We are using a combination of public and private satellites for our solution. Additionally, we are partnering with ground data providers to make sure that we are delivering accurate results,” says the company.

Capital utilisation

Meteory says it will use the funds to accelerate the development of its software platform and expand its commercial proposition. The company also mentions that it is set to pioneer the future of environmental awareness.

Larroumets says, “Securing this funding underscores the urgency of real-time environmental insights. At Meteory, we’re driven to innovate relentlessly, shaping the way we understand and engage with our environment. This investment round confirms we are on the right track to making a big impact.”

Blanchet adds, “We are dedicating our life to fighting the climate crisis and this investment is a proof of what has been done and what is coming next. Meteory will make it easy for decision-makers to know what is happening on their territories.”