Dryad Networks Raises Additional €1.6M in Funding

Dryad Networks

Dryad Networks, a Berlin-Brandenburg, Germany-based environmental IoT startup, secured additional €1.6m in funding.

The backer was ProFIT Brandenburg, a program sponsored by the German state of Brandenburg’s Ministry of Economics, Labor and Energy (MWAE), and backed by the EU fund for Regional Development.

Last October, the company secured seed capital of €1.8m, bringing the total funding now available to €3.4m. 

Dryad will use the additional funding to speed up the product development process, from R&D and testing through to market introduction. The firm expects to begin two proof of concept deployments in Germany and Africa by summer 2021.

Led by Carsten Brinkschulte, CEO and co-founder, Dryad is advancing Silvanet, a large-scale IoT network for the ultra-early detection of wildfires. This will enable public and private forest owners to monitor, analyze and protect the world’s largest, most remote forests and tackle the devastating impact of wildfires on the environment, wildlife and communities. It uses a network of gas sensors for ultra-early detection of wildfires in under 60 minutes – even in remote areas.

The team tested a minimum viable product in a forest in Germany, and has secured ten letters of intent from forest owners in Germany and Africa.