Ororatech, a NewSpace startup, based in Munich, announced that it raised USD 7 million in Series A round. This round was led by Ananda Impact Ventures and Findus Ventures.
The round also saw the participation of Clemens Kaiser, Ingo Baumann, APEX Ventures, Bayern Kapital and SpaceTec Capital.
On information of utilizing the funds, the CEO and Co-founder, Thomas Grübler said – “This funding round will enable us to launch our first satellites and scale our geospatial data analysis platform.”
Words from the investors –
Christian Federspiel, CEO of Findus Venture. Said -“OroraTech is a leader in thermal-infrared data from space. With its unique information from this data and modern SaaS approach, OroraTech will meet the ever-growing demand for space-based data.”
Florian Erber, Managing Director at Ananda Impact Ventures, added – : “What excites us about OroraTech is the immediate impact on mitigating Climate Change by protecting our natural carbon sinks and reducing CO2 emissions on a large scale. The strong mission-driven OroraTech team and their environmental solution is a perfect fit for Ananda and our core belief in entrepreneurial solutions for a more sustainable world.”
Wolfgang Neubert, Partner at APEX Ventures.- “We have been actively observing OroraTech since 2019 which has already then impressed by its dynamic and determined founder team. It is absolutely remarkable what they have built up and achieved so far despite limited financial resources and we feel very proud that we are allowed to be part of this inspiring and ambitious NewSpace project,”
Roman Huber, Managing Director of Bayern Kapital stated – “The market potential of NewSpace businesses is considerable. The potential fields of application for OroraTech across the globe in particularly at-risk regions such as California, Australia, or Brazil, convinced us – the venture capital organization of the Free State of Bavaria – from the start. With our growth fund ‘Wachstumsfonds Bayern’ we will support the Munich-based business to take the next step in realizing its ambitious growth plans.”
About OroraTech
OroraTech based in Munich, Germany, founded and established by Björn Stoffers, Florian Mauracher, Rupert Amann, and Thomas Grübler in 2018. It offers satellite-based detection for wildfires and monitoring services from various satellites sources on a global scale.
Other than this the company is developing its own nanosatellite which will be specialized in the detection of wildfires. The first satellite will be launched at the end of this year, 2021.
The company has grown with 44 employees across the globe. It also has been supported by various space tech giants.
“Thermal-infrared satellite imagery allows for a great number of use cases,” says Björn Stoffers, CMO and Co-founder. “Our primary target is to expand our position as the leading provider of satellite-based wildfire monitoring.”“Wildfires are a significant challenge for our global ecosystem, and we are closely collaborating with international experts to tackle the problem.”
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