The artificial intelligence-supported satellite technology initiative OroraTech has secured a 25 million euro investment. The investment round, which totaled 25 million euros, was led by Korys. Based in Germany, OroraTech’s investment round also included participation from The EU’s Circular Bioeconomy Fund (ECBF) and Bayern Kapital. The company announced that the new funding will be used to scale its fire detection system, enhance its technology, and expand into global markets.
Established in 2018 by Thomas Grübler, Björn Stoffers, Florian Mauracher, and Rupert Amann, OroraTech analyzes satellite images using specially developed artificial intelligence algorithms. These algorithms detect signs of fire, temperature changes, and smoke clouds, allowing for predictions regarding the emergence and spread of fires.
In addition to its own developed thermal satellites, the company also collects data from other Earth observation satellites around the world. OroraTech has launched two satellites and plans to launch a third one soon. These satellites help in quickly detecting fires by measuring temperature differences and monitoring changes in the area.
The company analyzes the data it collects to provide real-time information to its users. In high fire-risk areas, it issues alerts in advance, enabling authorities to respond quickly. OroraTech collaborates with organizations such as the European Space Agency (ESA) to develop its projects and expand into international markets.
OroraTech aims to place 100 satellites in orbit by 2026. With this expansion, the company plans to enhance its fire detection and monitoring capabilities and reach more markets worldwide.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
