Atlanta, USA-based leader in aerial wildfire containment technology, Rain closed its oversubscribed seed round with USD 9.7 million funding. DBL Partners led the financing for the company. In addition, VoLo Earth Ventures, Kapor Capital, and Convective Capital also joined in the investment. Other investors such as Immad Akhund, Brian Bjelde, Steve Blank, John and Patrick Collison, Edward Fenster, Dylan Field, Nat Friedman, Daniel Gross, Geoff Ralston, and Blake Scholl provided the seed financing.
Purpose of financing for Rain
The company seeks to deploy the latest proceeds from the seed round to advance pilot projects in the United States.
What the company’s officials have to add
Maxwell Brodie, Rain CEO and co-founder, said, “As I write this, my hometown is burning. Paradise, Greenville, Lytton, Lahaina and too many other towns have burned to the ground. Every year, catastrophic wildfires claim lives, destroy entire communities, and diminish the carbon reduction efforts of nations and states. Rain’s technology enables a wildfire response time so fast that we can actually stop fires before they have a chance to grow out of control. Early response timing, like any emergency, can make all the difference in a successful outcome.”
In addition, Nancy Pfund, Founder and Managing Partner of DBL Partners and board member at Rain, said, “Catastrophic wildfires are a climate flywheel we cannot ignore. 18% of total global fossil fuel CO2 emissions were emitted by wildfires in 2021. The CO2 emissions from the 2023 Canadian wildfires are approaching three times the annual emissions of the state of California. Working with firefighting professionals, land owners and managers, conservation experts, residents, government officials, insurers, utilities and other constituencies, Rain can help to catalyze a new, more effective approach to preventing the spread of unwanted wildfires. Rain’s 21st-century technology not only promises to drive better wildfire outcomes but will also help to create important new markets and jobs. As an impact venture capital firm, we at DBL see Rain’s mission as the epitome of Double Bottom Line Investing.”
What the investors have to add
Kareem Dabbagh, Co-Founder and managing Partner of VoLo Earth Ventures, further said, ”Forests have reached a critical tipping point, releasing more carbon due to wildfire than they are able to store. Rain’s platform, as the future of autonomous aircraft for wildfire protection, will save billions of dollars in expense and allow insurers the ability to improve their wildfire risk adoption, protecting property, electric grids, and human and planetary health.
Besides, John Collison, President of Stripe, said, “The steady rise of catastrophic wildfires is plain to see. Aerial firefighting is one of the most important use cases for autonomous flight, where Rain’s technological leaps can shorten response times, keep pilots out of harm’s way, and increase total fire suppression capabilities at a time when we sorely need them. Bring on the firefighter drones.”
About Rain
Rain is a pioneer in aerial wildfire containment technology. It helps fire agencies more rapidly suppress wildfires during the earliest stages of ignition before they grow out of control.
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