Landshut, Munich, Germany / Vienna, Austria, June 2, 2021 – The New Space start-up OroraTech has successfully completed a Series-A financing round of EUR 5.8 million. The Wachstumsfonds Bayern (Bavarian Growth Fund) managed by Bayern Kapital, the venture capital organization of the Free State of Bavaria, as well as Ananda Impact Ventures, Findus Venture, APEX Ventures and several experienced business angels invested in the company. OroraTech develops a global satellite-based early warning system for wildfires. Its technology is already used by governmental organizations and insurance companies as well as in the commercial forestry sector to reduce the ecological and economic impacts of wildfires. In recent years, wildfires have increased both in number and volume. In the US alone, fires have destroyed an area of more than 41,000 km² in 2020, and in the Mediterranean region more than 50,000 fires occurred in the same time period. Across the globe, fires release a total of around eight million tons of CO² – more than the combined automotive traffic worldwide – and cause damages of around USD 24 billion each year.

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