OroraTech, a German nugget, is raising 5.8 million euros to fight fires. The start-up raised funds from Findus Venture and Ananda Impact Ventures as well as APEX Ventures, BayernKapital, Clemens Kaiser, SpaceTec Capital and Ingo Baumann.
Fires are difficult to detect and release around 8 billion tonnes of CO2 into the atmosphere. They destroy 30 to 40 million hectares of vegetation each year, causing damage estimated at over $ 20 billion for insurance companies. This is why OroraTech has decided to tackle this market.
Satellite data analysis
OroraTech is developing a SaaS platform for risk assessment, detection and monitoring of fires around the world. The goal is to help mitigate the economic and environmental impacts of these events. Its solution is currently based on a fire detection algorithm that it has customized and data from 14 satellites positioned in low and geostationary orbit.
The young shoot sends alerts to its customers when a fire breaks out in one of their areas of interest. It also makes it possible to follow the development of the fire and to analyze its propagation.
OroraTech claims customers in the United States, Canada, Brazil, Chile and Australia. She assures that her platform is already used by government agencies, insurance companies and forestry services. She also works with NGOs for the African continent.
An overview of the solutions offered by OroraTech.
Have your constellation of satellites
This financial contribution will enable it to continue developing its technology and strengthen its international team. In addition to its platform, OroraTech wants to set up its own network of nanosatellites in order to collect complete data and obtain thermal infrared data. This valuable data to help him identify fires all over the planet in almost real time.
“This funding round will allow us to launch our first satellites and expand our geospatial data analysis platform”, adds Thomas Grübler, co-founder and CEO, in a press release. The first launch is scheduled for the end of 2021 and will form the basis of the constellation of thermal infrared nanosatellites. In 2023, the young company hopes to deploy 14 other nano-satellites and have more than a hundred satellites in orbit by 2026.
Gas flares and agricultural data
OroraTech wants to “prevent, monitor and uncover the damage caused by climate change and tackle environment-related business opportunities”. Beyond the detection of forest fires, the young shoot is also working on solutions to monitor gas flares, improve weather models and analyze agricultural areas. “Thermal infrared imagery from satellites opens up many use cases”, adds Björn Stoffers, co-founder and CMO.