OroraTech, a Munich-based startup, has raised $27 million in a Series B funding round. The company uses AI and thermal data from satellites to predict and monitor wildfire risks around the world. OroraTech collects thermal infrared data from more than 25 satellites in space.
This data is analyzed for various purposes, such as geospatial engineering, insurance, energy, and infrastructure protection. The company also provides real-time monitoring of wildfires to help manage and assess their development. Martin Langer, cofounder and CEO of OroraTech, said, “We use predictive AI to try and predict the risk of wildfires.
We process and aggregate a lot of data from around the globe — so we use AI modeling to inform our customers of what could happen in the next few days or even hours.
OroraTech has attracted interest from various stakeholders, including governments and insurance companies.
Predicting wildfires with AI and satellites
The startup has signed a contract with the Greek government and counts commercial forestries, energy companies, and insurance companies among its key clients.
The company generates revenue by charging a monthly subscription for companies to use its API. This allows them to stream OroraTech data into their own systems. Langer noted that being positioned at the intersection of AI and climate has been beneficial for the company.
The Series B funding round was led by Korys, the European Circular Bioeconomy Fund (ECBF), and Bayern Kapital. Additional investors included Edaphone Private Impact Fund, Ananda Impact Ventures, ConActivity KG, and Findus Venture. OroraTech plans to use the new capital to expand in the US and develop its orbital sensor network.
OroraTech’s innovative approach to wildfire prediction and monitoring, powered by AI and satellite data, has positioned the company for further growth and expansion, especially in the US market.
