The investment round was completed by lead investor Edaphon, a Belgium-based impact investor, along with existing investors Findus Ventures, Ananda Impact Ventures, Wachstumsfonds Bayern 2, Conactivity, Apex Ventures, and Spacetec Capital. Industry experts Ingo Baumann and Clemens Kaiser also participated. Additional funding was raised through contracts and grants from the European Space Agency (ESA) and the Free State of Bavaria. With the new funding, Ororatech plans to launch its second thermal imaging camera into space in May 2023 and develop further solutions for adapting to and combating climate change.
Thomas Grübler, CEO of Ororatech, explains:
"I'm very proud of what we've achieved within a year – we launched our first camera into space, which exceeded even our own expectations and is unique worldwide. With this additional funding, we will put our second camera into orbit and accelerate our expansion strategy into additional application areas. Ororatech's rapid growth is also recognized by investors, and I'm therefore delighted to welcome our new investor, Edaphon, on board. Together, we will continue to advance our goal of measuring the Earth's temperature every 30 minutes to provide greater transparency and enable better decisions in combating climate change."
“Impressed by Ororatech’s product portfolio”
Ororatech was founded in 2018 as a spin-off of the Technical University of Munich and develops a global, satellite-based early warning system for wildfires. With its Wildfire Intelligence Solution, the startup uses available Earth observation data to detect and monitor wildfires. According to the company, the solution already detects over 100,000 fires daily and has thus already protected more than 160 million hectares of forest on six continents.
Ororatech is also working on its own satellite constellation to further improve the data situation. This year, the Munich-based startup launched its first uncooled thermal infrared sensor into spaceMore are to follow. Starting in 2024, Ororatech aims to use its constellation to survey every point on Earth every 12 hours, and starting in 2026, approximately every 30 minutes.
Joost Van Laer, Investment Manager at Edaphon, comments:
"We support companies that have the potential to make a significant positive impact on the environment. We were impressed by Ororatech's product portfolio, the strengths of the complementary team, and its ambition to continue developing groundbreaking solutions in the coming years."
