Munich-based OroraTech, a company that uses thermal satellites and AI to detect and prevent wildfires, has raised €25 million in a Series B funding round. The round was led by Korys and the European Circular Bioeconomy Fund (ECBF), with participation from existing investors like Bayern Kapital, Ananda Impact Ventures, and Edaphone Private Impact Fund.
OroraTech’s innovative platform uses high-resolution thermal satellite data to provide real-time alerts for early wildfire detection. The company’s AI-powered system allows fire agencies, companies, and organizations to respond more effectively to wildfires, helping to mitigate damage and save lives. With its orbital thermal sensor network, OroraTech aims to enhance the accuracy and speed of wildfire detection globally.
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Scaling for Global Impact
The newly secured funding will be used to expand the company’s operations in high-risk regions, particularly in North America and the Asia Pacific, where wildfires are becoming more frequent. The company will also enhance its AI capabilities and expand its satellite network to provide even more precise data for wildfire risk assessment. OroraTech has already established a global presence, working in countries like Australia, Brazil, Canada, Greece, and the US.
Strategic Partnerships for Sustainability
With strategic support from investors such as Korys, which focuses on sustainable innovations, OroraTech is positioned to drive impactful solutions to the growing threat of wildfires. Martin Langer, CEO of the german firm, emphasized that the backing from their investors will be pivotal as they continue to scale their technology and expand their market presence, especially in regions with increasing wildfire threats.
