Ororatech was founded in 2018 as a spin-off of the Technical University of Munich and developed a global, satellite-based early warning system for forest firesWith the Wildfire System (WFS), institutions can expand their early warning systems and adapt to increasingly devastating fires. The technology is already being used by government agencies and insurance companies, as well as in commercial forestry, to mitigate the ecological and economic impacts of wildfires. The startup is also developing further applications for its technology, such as monitoring environmentally harmful gas flaring or comprehensive agricultural analytics for the agricultural industry.
The financing will enable the launch of the first Ororatech satellites
In addition, the Munich-based company plans to build its own Nanosatellites in Earth's orbit. To this end, the company has developed innovative, very small infrared camera systems and equipped them with artificial intelligence (AI). The funds from the current financing round will enable the launch of the first satellites. The startup plans to have over 100 nanosatellites in Earth's orbit by 2026. These will be able to detect and report forest fires in areas as small as ten by ten meters within 30 minutes, as well as measure temperatures worldwide with high resolution every hour.
"Observation towers, drones, or aircraft are costly surveillance measures and often not feasible even for professional forest owners. Institutions and forest owners around the world already rely on our service,"
reports Ororatech CEO and co-founder Thomas GrüblerHe goes on to say:
"In order to cover even more areas of the Earth in the future and raise the alarm earlier, we will launch our own specialized satellite constellation into orbit. We are therefore pleased to have top-class investors on board who will support us in implementing our plans with capital and technological know-how."
Bavaria’s Minister of Economic Affairs Hubert Aiwanger can choose New Space Startups like Ororatech inspires:
"Space is a future market. There are already over 120 so-called New Space companies in Germany. Crucial to the success of such innovative young companies is the availability of venture capital to finance promising growth steps. The Free State of Bavaria has been supporting local tech startups in capital-intensive expansion phases for many years with the Bavarian Growth Fund. By supporting forward-looking companies like Ororatech in scaling their business models, we are securing the long-term innovative strength and competitiveness of Bavaria as a business location – and thus creating the jobs of tomorrow today."
Lots of enthusiasm among investors
And Ororatech’s investors are also very enthusiastic about the startup’s solution. Roman Huber, Managing Director of Bayern Kapital, explains:
"With climate change, the risk of wildfires is increasing worldwide. In 2019 alone, over 4.5 million fires larger than one square kilometer occurred worldwide. If responsible authorities have access to precise thermal images from space and can thus act in a timely manner even in less densely populated areas, the damage caused by wildfires to nature and people will be significantly reduced. This global application potential convinced us at Ororatech from the very beginning."
Florian Erber, Managing Partner at Ananda Impact Ventures, adds:
"What excites us about Ororatech is its direct impact on climate change mitigation. It protects our natural carbon stores and reduces CO2 emissions on a large scale. The strong, intrinsically motivated Ororatech team is a perfect fit with Ananda and our core belief that entrepreneurial solutions can drive positive social and environmental change."
