OroraTech, a Munich-based firm specializing in wildfire detection through thermal satellites and AI, has successfully raised €25 million in a Series B funding round. Focused on minimizing wildfire damage and safeguarding lives, OroraTech collaborates with businesses, organizations, and firefighting agencies globally. The company’s technology not only provides early warning systems but also helps optimize resource allocation for wildfire management, crucially supporting efforts to manage natural disasters more effectively.
OroraTech’s Series B funding, led by Korys, the European Circular Bioeconomy Fund (ECBF), and Bayern Kapital, marks a significant financial boost for the company. Previously, the company had collaborated extensively with the European Space Agency, securing a €20M contract aimed at bolstering Greece’s wildfire management systems. This new investment reflects a growing trend of international investors showing interest in climate-focused technologies that have practical applications in mitigating environmental challenges.
Who is backing OroraTech?
Key investors in this round include Korys and ECBF, along with Bayern Kapital. Additional participation came from Edaphone Private Impact Fund, Ananda Impact Ventures, ConActivity KG, and Findus Venture.
“Our investment in OroraTech highlights our dedication to nurturing innovative companies that leverage technology for the benefit of our planet,” stated Frederik Simoens, Korys Investment Director, and Karel Van Cleemput, Senior Investment Manager.
The emphasis on environmental impact and sustainability resonates throughout OroraTech’s mission and operations.
How will the capital be used?
The funds will support OroraTech’s expansion into new markets, particularly in North America and the Asia Pacific, where wildfire risks are increasingly prevalent. Enhancing their AI and satellite capabilities remains a priority to improve the accuracy and response speed of wildfire detection. CEO Martin Langer expressed optimism about the global impact,
“We are thrilled to welcome Korys, ECBF, and all our partners as we embark on this next phase of our journey.”
This strategic growth is integral to addressing the urgent needs of land managers and decision-makers worldwide.
Established in 2018, OroraTech provides real-time thermal intelligence through its Wildfire Solution platform. Their satellite network delivers high-resolution data, offering timely alerts and enabling rapid responses to wildfires of any scale. The company operates in diverse geographies, including Australia, Brazil, Canada, Greece, and the US, with a dedicated team of over 100 experts. Their collaboration with the European Space Agency underlines their commitment to advancing wildfire management systems.
The investment aligns with OroraTech’s broader goal of providing sustainable solutions for wildfire management. Korys, focusing on conscious consumerism and energy transition, recognizes the importance of sustainable investments. ECBF, with a fund of €300M, supports innovations within the EU aimed at shifting towards bio-based economies. Bayern Kapital’s extensive investment history in high-tech startups illustrates the increasing importance of deeptech solutions in addressing environmental challenges.
As OroraTech continues to grow, the integration of advanced technologies in battling climate-related issues becomes increasingly significant. The company’s strategic expansion into new markets signifies a response to the growing need for effective wildfire management solutions globally. Investors’ support highlights the potential of OroraTech’s technology in offering practical applications for climate resilience. The collaboration between different stakeholders presents an opportunity for enhanced global wildfire management, benefiting communities and ecosystems alike.
