ICEYE Acquires FloodID Technology from The Water Institute
1 report, 1 independent
Updated Thu 00:00
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What happened
ICEYE, a Finnish satellite company, acquired FloodID technology for an undisclosed amount. FloodID is a flood-forecasting tool created by The Water Institute, a nonprofit founded in 2011. The Water Institute was based in Baton Rouge, where the tool was initially requested by state officials in 2020.
From technical.ly
Why it matters
The acquisition allows ICEYE to add a prediction layer to its disaster-monitoring business. The Water Institute’s CEO stated that ICEYE’s capital and international reach enable the technology to scale globally, a scope that government contracts alone could not achieve.
From technical.ly
Who's involved
- Baton RougeLocation where The Water Institute was based and where FloodID was initially requested
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The entities involved
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Baton Rouge
capital city of Louisiana, United States, and seat of East Baton Rouge Parish