BOULDER, Colo., Dec. 13, 2017 /PRNewswire/ -- Tempo Quest, Inc. today announced that it has closed its preferred seed financing round for a total of $2.5 million. Investors include SCubed Capital, LLC, Menlo Park, CA; and a group of individual angel investors including Bob Pavey and Harvey Jones.
"This latest round of financing will enable us to continue development of the company's proprietary weather forecasting software solutions on an accelerated schedule," said Gene Pache, Tempo Quest President. "The need for increased weather forecasting speed and accuracy has never been greater, as evidenced by the catastrophic impact recent weather events have had on lives and property in the U.S., and across the Caribbean," he added.
Tempo Quest's solutions utilize NVIDIA Graphic Processing Units to reduce regional forecasting times from two hours to fifteen minutes, while at the same time dramatically improving forecast precision and the graphic visualization of critical weather data analytics.
"The resulting benefits promise to save countless lives and significantly reduce storm-related property destruction," said Mr. Pache.
He noted that the German Insurance Company, Allianz Risk Mitigation had calculated profit losses linked to deficient weather forecasts equaled as much as 3.6% or greater of a country's GDP, which would equate to nearly $700 billion for the U.S. in 2018.
Tempo Quest is an early stage company that uses proprietary, disruptive, GPU based software to significantly advance the speed and accuracy of regional weather forecasting.
SOURCE Tempo Quest, Inc.