Amsterdam’s Overstory raises €37.1M to scale satellite AI for wildfire and grid-risk monitoring

Amsterdam-based Overstory, a vegetation intelligence platform, has raised $43M (nearly €37.16M) to expand its AI-based tools and operations.

Amsterdam-based Overstory, a global vegetation intelligence platform, has secured $43M (nearly €37.16M) in Series B funding.

The round was led by climate-tech growth equity firm Blume Equity, with participation from Energy Impact Partners LP (EIP). Existing investors, B Capital, Semapa Next, Pale Blue Dot, CapitalT, Convective Capital, Bentley Systems, MCJ, and Moxxie Ventures also participated in this round.

James Sprinz, Principal at Energy Impact Partners, says, “Utilities are at a pivotal moment, facing more extreme weather events every year. Overstory is tackling this challenge in a way that utilities can act on immediately, making sense of satellite data to spot the exact tree to trim, pole to clear, or asset to replace.”

Michelle Capiod, co-founding Partner at Blume Equity, adds, “The companies that will drive the greatest impact on our planet are those that deliver climate solutions with real economic value. Overstory exemplifies this — transforming satellite data into actionable insights that help utilities both prevent climate-related disasters and drive operational efficiencies.”

“Their customer-first approach and leadership in AI have enabled them to develop cutting-edge, yet highly practical, solutions that deliver a tangible return on investment. This is exactly the kind of scalable, high-impact climate solution we’re proud to support at Blume Equity.”

Overstory plans to use the funds to develop its AI-based risk models, expand its wildfire prevention tools, and expand its operations internationally.

Reducing wildfire and outage risks in utility operations

Founded in 2018 by Indra den Bakker and Anniek Schouten, Overstory aims to use artificial intelligence to help utilities manage vegetation and wildfire risk. 

Overstory says its Fuel Detection Model uses satellite imagery to help utilities identify locations where vegetation may pose a higher risk of fire ignition and spread, so they can prioritise field inspections and mitigation work.

Utilities have previously relied on publicly available fire risk maps that provide broad assessments of regional risk. Overstory’s platform provides detailed data to help utilities prioritise resources and implement a targeted maintenance strategy.

Fiona Spruill, CEO of Overstory, says, “Utilities are on the front lines of keeping communities safe, and they’re eager to use the best data available. When we talk about how satellites and remote sensing can identify dying trees and wildfire risk, they lean in.”

“We’re grateful to our forward-thinking investors for supporting this next chapter – expanding our intelligence product to address storms and wildfires to help utilities build a more resilient and reliable grid.”

A new Chief Operating Officer

Overstory says it has provided services to six of the ten largest utility companies in the Americas during its seven years of operation.

The company reports a team of more than 80 people across machine learning, data science, arboriculture and wildfire management.

Overstory’s next phase will be guided by its new Chief Operating Officer, Tamara Mendelsohn. She is a former Eventbrite CMO who has experience scaling companies from seed stage to IPO.