OroraTech, a Munich, Germany-based space-based thermal-infrared data intelligence company, raised €15M in Series A funding.
The round was led by Edaphon, with participation from Findus Venture, Ananda Impact Ventures, Wachstumsfonds Bayern 2, ConActivity, APEX Ventures, SpaceTec Capital, Ingo Baumann and Clemens Kaiser. Additionally, the round was extended by non-dilutive co-funding from the European Space Agency (ESA) and the Free State of Bavaria.
The company intends to use the funds to expand its climate solutions portfolio by launching its second thermal-infrared camera in space in May 2023 to strengthen its position as a commercial provider of space-based thermal-infrared insights.
Led by CEO Thomas Grübler, OroraTech offers a thermal-infrared camera that shows the unseen world by providing data in two optical bands: long-wave-infrared (LWIR) and medium-wave-infrared (MWIR). LWIR is used as a commercial thermal-infrared camera; it captures the ambient temperature of an object (about -30 to +80°C). However, different extreme events, like fire, are scorching hot. So, the company also uses the MWIR band, allowing hot objects to be determined against low temperatures.
Its first product – the Wildfire Intelligence Solution – is already detecting over 100,000 fires each day and protecting over 160 million hectares of forest across six continents.
Headquartered in Munich, Germany, in 2022, OroraTech expanded its footprint with experts in the US, Canada, and Luxembourg.
FinSMEs
02/12/2022