OroraTech has successfully raised €25 million in its latest Series B funding round, led by Korys, the European Circular Bioeconomy Fund (ECBF), and Bayern Kapital, along with contributions from existing investors. The funding will be utilized to expand OroraTech’s satellite network and enhance its predictive AI capabilities for wildfire management, aimed at assisting firefighters and land managers in responding more effectively to wildfires, particularly in North America and the Asia Pacific regions. The investment will facilitate the launch of up to nine new satellites in 2025, which will focus on providing data during peak wildfire hours, from midday to 9 p.m., delivering more frequent updates to help manage fires effectively.
OroraTech plans to increase its presence in North America and the Asia Pacific, especially in the United States, Canada, and Australia, which are among the most severely impacted by wildfires. The company already operates in these regions and aims to expand its services to further assist local fire management teams. Martin Langer, CEO of OroraTech, expressed excitement about welcoming Korys, ECBF, and other partners as the company embarks on this next phase of growth.
OroraTech is dedicated to improving its wildfire detection and management technology. This investment will enable the company to advance its predictive AI capabilities for all stages of wildfire management, from pre-fire risk assessments to post-fire analysis. This includes enhancements to their Fire Spread simulation model and faster fire detection capabilities via their satellite network. The company’s wildfire management platform, Wildfire Solution, provides real-time data for risk assessment, fire detection, and growth prediction, helping decision-makers manage fires more efficiently.
OroraTech’s technological innovations have attracted global attention, including a recent €20 million contract with the European Space Agency to support wildfire management efforts for the Greek government. This project highlights OroraTech’s commitment to long-term solutions for wildfire prevention and mitigation. Frederik Simoens, Investment Director at Korys, commented, “We selected OroraTech for their satellite-based wildfire detection platform and are excited to support their efforts to reduce carbon emissions and combat climate change.”
In summary, OroraTech has raised €25 million in a Series B funding round, led by Korys, ECBF, and Bayern Kapital. The funds will support the expansion of its satellite network, with plans to launch nine new satellites in 2025, focusing on peak wildfire hours. The company aims to grow its presence in North America and the Asia Pacific, specifically in the US, Canada, and Australia, and enhance its predictive AI for wildfire management, improving detection, risk prediction, and post-fire analysis. OroraTech continues to advance its wildfire management platform, securing significant contracts, including a €20 million agreement with the European Space Agency.
