OroraTech secures €25 million for satellite expansion and AI development

OroraTech has successfully raised €25 million in its latest Series B funding round.

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

The funds will be used to expand OroraTech’s satellite network and enhance its predictive AI capabilities for wildfire management.

The expansion aims to support firefighters and land managers in responding more effectively to wildfires, particularly in North America and the Asia Pacific regions.

The investment will fund the launch of up to nine new satellites in 2025.

These satellites will focus on providing data during peak wildfire hours, from midday to 9 p.m., offering firefighters more frequent updates to manage fires effectively.

Expansion into key markets

OroraTech plans to increase its presence in North America and the Asia Pacific regions, with a particular focus on the United States, Canada, and Australia.

These areas are among the most severely impacted by wildfires, and OroraTech already operates in these regions.

The company aims to expand its services to further assist local fire management teams.

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.”

Enhancing predictive AI for wildfire management

OroraTech is also committed to improving its wildfire detection and management technology.

The investment will allow the company to develop its predictive AI for all stages of wildfire management, from pre-fire risk predictions to post-fire analysis.

This includes advancements in their Fire Spread simulation model and faster fire detection capabilities through their satellite network.

The company’s wildfire management platform, Wildfire Solution, offers real-time data for risk assessment, fire detection, and growth prediction, aiding decision-makers in managing fires more efficiently.

Long-term partnerships and contracts

OroraTech’s technological advancements have gained the attention of organisations across the globe.

The company recently secured a €20 million contract with the European Space Agency to support wildfire management efforts for the Greek government.

This project underscores OroraTech’s commitment to long-term solutions for wildfire prevention and mitigation.

Frederik Simoens, Investment Director at Korys, said: “We selected OroraTech for their satellite-based wildfire detection platform and are thrilled to support their efforts to reduce carbon emissions and combat climate change.”

OroraTech secures €25 million funding to enhance wildfire detection technology: Summary

OroraTech has raised €25 million in a Series B funding round, led by Korys, ECBF, and Bayern Kapital.

The funds will be used to expand its satellite network, with plans to launch nine new satellites in 2025, targeting peak wildfire hours.

Additionally, OroraTech aims to grow its presence in North America and the Asia Pacific regions, specifically in the US, Canada, and Australia, which are severely affected by wildfires.

The investment will also enhance OroraTech’s predictive AI for wildfire management, improving detection, risk prediction, and post-fire analysis.

The company continues to develop its wildfire management platform, securing significant contracts, including a €20 million agreement with the European Space Agency.