German wildfire intelligence firm OroraTech has raised €25m (US$27m) in Series B funding that will enable it to further expand key global markets and enhance its predictive AI capabilities and orbital sensor network.
Through predictive algorithm data fed by its thermal satellite network, OroraTech enables companies, organizations and fire agencies to actively respond to the global wildfire crisis, reducing damage and saving lives.
“Our investment in OroraTech highlights our dedication to nurturing innovative companies that leverage technology for the benefit of our planet,” explained Frederik Simoens, investment director, and Karel Van Cleemput, senior investment manager, at Korys, which led the funding round.
“We selected OroraTech for their pioneering satellite-based wildfire detection platform and are thrilled to support their ground-breaking efforts to reduce carbon emissions and combat the consequences of climate change.”
According to OroraTech, this investment will accelerate OroraTech’s mission of “empowering fire fighters and land managers to mitigate destructive fires worldwide” as the threat and scale of extreme wildfires continue to increase.
Martin Langer, CEO and CTO of OroraTech, commented, “We are thrilled to welcome Korys, ECBF [European Circular Bioeconomy Fund] and all our partners as we embark on this next phase of our journey. Their strategic support, combined with the continued confidence from our existing investors, will be pivotal as we enhance our technology and grow globally. Together, we are poised to make significant strides in eradicating the devastating impact of extreme wildfires worldwide.”
