Ororatech raises 15 million euros

Together with SpaceX, the Munich-based start-up is sending satellites into space that are designed to detect fires at an early stage. The second satellite is to be launched soon.

Munich-based Ororatech raises 15 million euros in its Series A financing round. The start-up is developing satellites that are designed to detect and thus prevent fire disasters at an early stage from space. The satellites are about the size of a shoebox. They use infrared cameras to create thermal images and vegetation analyses to find sources of fire. The company's own software, Wildfire Intelligence Solutions, collects and processes this data. If there are any abnormalities, users of the software are notified.

Various backers invested in this technology. The Series A round was led by Edaphon, a Belgian climate impact fund. Existing investors Wachstumsfonds Bayern 2, Findus Venture, Ananda Impact Ventures, Apex Ventures and Spacetec Capital also invested again. The European Space Agency Esa and the Free State of Bavaria also provided a loan. Here, Ororatech says it does not have to give up any shares.

The fresh capital is intended to ensure the safe launch of the second satellite in May 2023. The first has been in space since the beginning of the current year, transported by a SpaceX rocket. According to its own information, the start-up, founded in 2018, thus localizes more than 100,000 fires a day worldwide. As co-founder Björn Stoffers Gründerszene the company no longer wants to work with SpaceX in the long term, but with Munich-based rocket startup Isar Aerospace.