TAMPA, Fla. — OroraTech has secured an extra 12 million euros ($13.3 million) in Series B venture funding to accelerate the expansion of its wildfire-monitoring constellation, the German satellite operator announced May 14.
The round was led by the BNP Paribas Solar Impulse Venture Fund, a sustainability-focused investment vehicle managed by one of Europe’s largest banks (BNP Paribas).
OroraTech has raised nearly 60 million euros in venture funding and secured about 40 million euros in commercial contracts since it was founded seven years ago to build out a global wildfire mapping and analysis platform.
A spokesperson for the operator said the latest investment will help it deploy another eight heat-tracking cubesats this year, enhancing the revisit time of a constellation that currently comprises 10 satellites in low Earth orbit. Rocket Lab launched a batch of eight 8U cubesats for the company in March.
The funding will also accelerate the development of OroraTech’s artificial intelligence-powered wildfire modeling tools and support the German company’s recently announced expansion into the United States.
The early-stage investment arm of Dutch bank Rabobank also participated in the Series B extension, alongside long-standing investors Bayern Kapital, Edaphon and the European Circular Bioeconomy Fund (ECBF).
“The increasing intensity and frequency of wildfires poses a significant threat to our planet, emitting billions of tons of CO2 annually, driving biodiversity loss, and diminishing the overall resilience of our ecosystems,” Rabo Ventures executive director Shishir Sinha said in a statement.
“As a bank with exposure to forestry and rural sectors, we recognize the urgent need to address these risks.”
OroraTech is seeing increasing demand from commercial forestry, infrastructure and insurance providers for its wildfire intelligence and situational awareness capabilities, the OroraTech spokesperson said, but declined to provide further details.
