OroraTech secures 25 million euros in Series B

Long-standing investors such as Bayern Kapital and new partners such as Korys support OroraTech's mission to fight forest fires worldwide with cutting-edge technology

Munich, October 15, 2024 - Munich-based startup OroraTech has raised 25 million euros in a Series B financing round. The round was led by Korys, the European Circular Bioeconomy Fund (ECBF) and existing investor Bayern Kapital. OroraTech plans to use the fresh capital to further develop its AI technologies for predicting forest fires and expand its satellite infrastructure. At the same time, the company will strengthen its presence in North America and the Asia-Pacific region to better address the increasing global threat of wildfires.

Automated detection of forest fires

OroraTech specializes in the detection and monitoring of forest fires using real-time data from thermal satellite sensors. This technology makes it possible to detect fires faster and more precisely, which helps decision-makers to better assess risks and act more efficiently. According to Martin Langer, CEO and CTO of OroraTech, thanks to the new investors and their strategic support, the company will continue to advance its mission to reduce wildfires worldwide.

Our investment in OroraTech highlights our dedication to nurturing innovative companies that leverage technology for the benefit of our planet.

Frederik Simoens, Investment Director Korys

The startup plans to further develop its thermal satellite sensor technology and AI-supported analysis platform. The aim is to improve the accuracy of fire predictions and revolutionize the global forest fire management market.

Investors who have been on board since 2021 and are now providing additional capital include Bayern Kapital, Edaphon, Ananda Impact Ventures and ConActivity. This renewed support demonstrates confidence in OroraTech's innovative solutions and the importance of forest fire prevention in the face of climate change.