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Wildfire detection company OroraTech set to expand further into North America with Series B funding

October 15, 2024

€25 million Series B funding fuels growth for OroraTech

OroraTech, a wildfire intelligence company, announced the successful closure of its €25 million Series B funding round.

The funding was led by Korys, the European Circular Bioeconomy Fund (ECBF), and Bayern Kapital.

These funds are earmarked for expanding OroraTech’s global operations, particularly in North America and the Asia Pacific region, and enhancing its predictive AI and satellite network to tackle wildfires.

Martin Langer, CEO of OroraTech, said: “We are thrilled to welcome Korys, ECBF, and all our partners as we embark on this next phase of our journey.”

Expansion into North American wildfire management

One of the primary goals of OroraTech’s Series B funding is to increase its presence in North America.

The company plans to strengthen its operations in the U.S. and Canada, areas severely affected by wildfires each year.

According to the company, they are already operating in these regions but will scale up to make a more substantial impact.

The newly raised funds will allow OroraTech to launch up to nine additional satellites in 2025, specifically targeting peak wildfire risk hours between 12 p.m. and 9 p.m.

“This means additional updates and data for firefighters on the ground,” said the company.

Advances in predictive AI for wildfire detection

OroraTech also plans to enhance its predictive AI technologies.

Their Wildfire Solution platform is designed to estimate fire risk, detect outbreaks, and simulate fire spread using data from their orbital sensor network.

This technological advancement aims to improve the speed and precision of wildfire detection, providing firefighters with the tools to better assess and respond to fires in real time.

The company will invest in the development of faster on-orbit fire detection, improvements to their Fire Spread simulation model, and post-fire analytics.

These innovations are intended to support fire agencies in their mission to mitigate the growing threat of wildfires.

Increased global presence and strategic partnerships

In addition to its expansion into North America, OroraTech will also focus on the Asia-Pacific region, including Australia, which faces some of the worst wildfire seasons.

The company has customers in these regions and will further invest in growing its presence there.

With these additional resources, OroraTech aims to assist land managers and fire agencies worldwide in their efforts to reduce the impact of extreme wildfires.

OroraTech’s recent €20 million contract with the European Space Agency, supporting the Greek government, highlights its commitment to providing long-term solutions for wildfire prevention and management globally.

OroraTech secures €25 million Series B funding to expand wildfire management in North America: Summary

OroraTech, a wildfire intelligence company, has raised €25 million in a Series B funding round, led by Korys and the European Circular Bioeconomy Fund, with continued support from Bayern Kapital.

The funds will be used to expand the company’s operations in North America and the Asia-Pacific region.

OroraTech plans to launch nine new satellites in 2025 and enhance its predictive AI technologies for wildfire detection.

CEO Martin Langer expressed excitement about the company’s future and its global impact on wildfire management.

OroraTech’s recent contract with the European Space Agency further demonstrates its international commitment.

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