YPOG advised APEX Ventures on the deal.
OroraTech successfully closed €5.8M Series A to launch first satellites to tackle global wildfire and climate crisis.
The latest €5.8 million Series A funding round is led by Findus Venture and Ananda Impact Ventures, with contributions from APEX Ventures, BayernKapital, and experienced Business Angels including Clemens Kaiser, SpaceTec Capital and Ingo Baumann. It will be used for further advancement of technology and the development of the international team.
OroraTech is the first NewSpace start-up to provide global wildfire detection and monitoring services. The platform is already used by government agencies, insurance companies, and commercial forestry operators around the globe, helping to mitigate the environmental and economic impacts of forest fires and other climate change-related topics.
Wildfires destroy 30-40 million hectares of vegetation every year, causing insured losses of over 20 billion US dollars. These initially difficult to identify forest fires release around eight billion tons of CO2 – more than global automobile traffic. OroraTech counteracts this increasingly devastating economic and environmental damage and develops, in addition to its platform solution, its own worldwide nanosatellite network that can identify fires around the globe in near real-time.
The company’s focus is to prevent, monitor and uncover the damages caused by climate change and to tackle environment-related business opportunities. Besides forest fire detection, OroraTech also works on solutions to monitor gas flares, improve weather models, and analyze agricultural areas.
OroraTech’s platform currently uses a custom wildfire detection algorithm and data from 14 different satellites in Low Earth Orbit (LEO) and Geostationary Orbit (GEO) to notify users of fires in their area of interest and to support immediate firefighting. The company is expanding its customer base in the U.S. and Canada, as well as strengthening its presence in Brazil, Chile, and Australia. OroraTech is also cooperating with NGOs to preserve wildlife in Africa.
APEX Ventures is a European-based Venture Capital Firm investing in deep-tech start-ups focusing on unique and defendable intellectual property and above-average market potential.
The YPOG Team included Dr. Martin Schaper (Picture) and Dr. Frederik Gärtne.
Law Firms: YPOG;
Clients: APEX Ventures GmbH;