- Munich-based startup OroraTech has secured a $27 million Series B funding round.
- The startup uses AI and thermal data to predict and monitor wildfire risks globally.
- Check out the 10-slide pitch deck OroraTech used to secure the fresh capital.
Munich-based OroraTech has secured $27 million in Series B funding.
The startup provides thermal data and insights to customers for a range of use cases — predominantly to predict and monitor the risk of wildfires.
It collects thermal infrared data from over 25 satellites in space, which organizations can analyze for various purposes, from geospatial engineering to insurance, and energy to infrastructure protection. It also offers real-time monitoring of wildfires to assess how they develop, and how they can be managed.
“We use predictive AI to try and predict the risk of wildfires,” said cofounder and CEO Martin Langer. “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 gained interest from various stakeholders, including governments and insurance companies. It has signed a contract with the government of Greece and counts commercial forestries, along with energy and insurance companies, as key clients, Langer said.
The startup makes its money by charging a monthly subscription to companies that can use its API to stream OroraTech data into their own systems.
As AI startups have found themselves in a purple patch for fundraising since 2023, Langer said that being positioned at the intersection of AI, climate, and space tech was a boon for the company.
“We were able to choose the right partners to scale the company, and the round was oversubscribed,” he told Business Insider.
Korys, the European Circular Bioeconomy Fund (ECBF), and Bayern Kapital led the Series B. Additional capital came from Edaphone Private Impact Fund, Ananda Impact Ventures, ConActivity KG, and Findus Venture.
With the cash injection, OroraTech said it will pursue expansion in the US and develop its orbital sensor network.
Check out the 10-slide pitch deck used to secure the funding.
