Understory, the Madison-based startup that analyzes and processes weather data, is raising additional capital to fuel its growth.
According to filings with the U.S. Securities and Exchange Commission, the company is raising $4.1 million from private investments. The company has so far secured $3.5 million from six investors.
Company officials did not offer additional details on how the new funds will be applied.
Current investors in Understory include True Ventures, Madison-based 4490 Ventures, CSA Partners in Milwaukee, and Revolution’s Rise of the Rest Seed Fund.
Founded in 2012, Understory makes solar-powered weather stations that collect weather data to help a range of industries detect risk and make better business decisions. The startup said its weather tech can be used by broadcasting, agriculture, forecasting and risk mitigation companies.