Munich-based OroraTech, which uses thermal satellites and AI to predict and prevent wildfires, has completed a €25M Series B funding round.
OroraTech helps companies, organisations, and fire agencies respond better to wildfires, aiming to reduce damage and save lives.
Investors supporting OroraTech
The investment was led by Korys, the European Circular Bioeconomy Fund (ECBF), and existing investor Bayern Kapital.
Additionally, existing investors, including Edaphone Private Impact Fund, Ananda Impact Ventures, ConActivity KG, and Findus Venture also participated in this round.
Frederik Simoens, Investment Director, and Karel Van Cleemput, Senior Investment Manager at Korys, say, “Our investment in OroraTech highlights our dedication to nurturing innovative companies that leverage technology for the benefit of our planet.”
“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.”
Capital utilisation
OroraTech will use the funds to advance its mission of supporting firefighters and land managers in addressing the increasing threat of extreme wildfires.
The investment will help the company expand into new markets, particularly in North America and the Asia Pacific, where demand for wildfire management is rising.
The proceeds will also be used to enhance OroraTech’s AI technology and orbital thermal sensor network, improving wildfire detection accuracy and speed. These innovations aim to help decision-makers better assess risks and make informed, data-driven choices to improve wildfire management efficiency.
Martin Langer, CEO of OroraTech, says, “We are thrilled to welcome Korys, ECBF, 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.”
Thermal intelligence for a sustainable Earth
Founded in 2018, OroraTech is an intelligence-as-a-service company that aims to transform wildfire management through its Wildfire Solution platform.
Using high-resolution thermal data from its satellite network, the company provides real-time wildfire detection and risk alerts, enabling timely responses to fires of any scale, day or night.
Since its founding in 2018, OroraTech has established operations in multiple countries, including Australia, Brazil, Canada, Greece, and the US, with over 100 experts dedicated to innovative fire prevention solutions.
The company recently secured a €20M contract with the European Space Agency to support Greece’s wildfire management efforts.
Brief about the new investors
Korys is an investment company of the Colruyt family, focusing on three areas: Conscious Consumer, Healthy Living, and Energy Transition. It partners with entrepreneurs and companies that share its commitment to sustainability and value-driven business.
With a team of 30 professionals in Belgium, Luxembourg, and India, Korys has built a portfolio worth over €4B in sustainable investments over the past 20 years. In addition to more than 20 direct investments, such as Colruyt Group and Virya Energy, Korys manages private equity funds and listed investments.
The European Circular Bioeconomy Fund (ECBF) is a VC fund focused on the bioeconomy and circular economy. Launched by the European Commission in 2020, the fund aims to support European entrepreneurs leading the shift from fossil-based to bio-based economies.
With €300M under management, ECBF invests in later-stage companies with innovation potential and sustainable impact within the EU and associated countries.
Bayern Kapital, the VC company of the Free State of Bavaria, supports high-tech and deeptech companies through various growth stages with investments ranging from €0.25M to €25M. Established in 1995, the firm invests alongside private investors and manages specialised funds with a total volume of around €700M.
Bayern Kapital has invested over €500M in more than 320 startups and scale-ups across sectors like life sciences, IT, and environmental technology, creating over 10,000 jobs in Bavaria. The current portfolio includes nearly 100 companies.
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