Wildfire fighting from space – that's Ororatech's mission. The solution is a satellite-based service for the early detection, monitoring, and forecasting of wildfires. The Ororatech nanosatellites are as compact as a shoebox and equipped with thermal imaging cameras that detect thermal anomalies on the Earth's surface. The data is transmitted to the Wildfire Intelligence Solution to display the location, size, and spread potential of a fire.
The Belgian investor Korys and the European Circular Bioinvestment Fund (ECBF) have now shown their conviction in the concept. They supported Ororatech's Series B, which raised €25 million. Bayern Kapital also participated with the growth fund Bayern 2 and the ScaleUp-Fonds Bayern. The company already raised €10 million in its Series A. New Space Startup over 20 million euros. The funds from the current financing round will be used to further develop the technology and expand into additional markets.
Martin Langer, CEO of Ororatech, comments on the investment:
"We are pleased that Bayern Kapital continues to believe in our mission and are thrilled to have Korys and ECBF on board for this next phase of our journey. Their strategic support, along with the continued trust of our existing investors, will be critical to the continued development of our technology and our global growth. Together, we can make significant progress in combating the devastating impacts of extreme wildfires worldwide."
The Managing Director of Bayern Kapital Monika Steger says:
"Unfortunately, increasing natural disasters such as droughts, floods, or forest fires are an indication that the market for early detection and environmental monitoring solutions will grow strongly in the coming years. Ororatech is addressing a global and growing problem in an innovative way and has clear technological differentiation features in the market. Since our first investment in 2021, the company has developed strongly. Ororatech is already convincing customers worldwide; the company's data is relevant in the forestry and agricultural industries, as well as in the insurance sector. This provides scalability in various directions. The combination of these factors makes Ororatech one of the most promising spacetech players in the market for us."
Ororatech has two operational satellites in space and plans to launch nine more next year. In addition, the company aggregates Pursue 25 additional public satellites and other data sources. This allows the Wildfire Intelligence Solution According to the startup, it is already protecting over 347 million hectares of forest worldwide. The technology will also be used for other purposes in the future, such as monitoring environmentally harmful gas flares and plumes, mapping urban heat islands to better predict heat waves, and conducting comprehensive agricultural analyses for the agricultural industry.
