Scorching temperatures worldwide and now the UK, which is known for its grey skies and always rainy weather witnessed its hottest day ever on Tuesday at an all-time heat record of 40C (104F). London’s firefighters faced one of their toughest days ever this week as several fires and record-breaking temperatures stretched their resources to the limit.
Besides, we have also seen such incidents in Australia and the US. Over 100 million people have come under excessive warnings or heat advisories in the US. As a result, there are mishaps such as wildfires or forest fires. California’s total wildfire costs were calculated to be $400 billion annually.
Wildfires are out-of-control fires that burn through forests, grasslands, peatlands, and pasturelands. Intensive AI models and excellent training are required to predict wildfire to reduce damage chances. Climate change is the most pressing issue and several green tech startups are collectively working to fill a gap and maintain a balance and create a healthy ecosystem. Today, we at TFN have identified six companies built around six key technologies that are driving development within six key pathways to net zero and are working to curb wildfires across the globe. Let’s take a look.
Founder/s: Attila Toth
Founded year: 2015
Total funding: $33M
Formerly PowerScout, the Californian startup Zesty.ai, uses artificial intelligence to understand the impact of climate risk to each and every building. Zesty.ai taps into a variety of data to create risk profiles for real estate owners and property insurance companies, focusing mainly on severe climate events like wildfires, hail and flooding.
Recently, Zesty.ai closed $33 million in an oversubscribed Series B funding led by Centana Growth Partners, and other investors. The funds will be used to expand the breadth of its existing products within the insurance and develop new products for the real estate market.
Founder/s: Björn Stoffers, Florian Mauracher, Rupert Amann, Thomas Grübler
Founded year: 2018
Total funding: $6.6M
A Munich-headquartered data intelligence startup, OroraTech, works with the mission to create a net-zero economy and protect the environment. The startup is building a constellation of 100 small satellites fitted with thermal infrared cameras to monitor the planet.
These satellites will report any fire larger than 10 meters within an hour of ignition. The first of its kind satellite was launched in January this year and more satellites will be added in 2023.
Last year, OroraTech scored $7 million in funding from Findus Venture and Ananda Impact Ventures alongside contributions from Apex Ventures, Bayern Kapital and several angel investors.
Founder/s: Adam Kaplan, Menashe Haskin, Nitay Megides
Founded year: 2016
Total funding: $20.5M
Another US startup here is Edgybees. The geospatial intelligence firm based in Maryland is leveraging technology like drones and satellites to give firefighters a detailed overview of developing fires. It works with four fire departments in California, Florida, and Australia, focusing on visually augmenting aerial and satellite imagery.
It overlays raw feeds with street layouts, traffic lights, and other key landmarks. Combined with real-time footage from drones, it will let firefighters better understand the situation on the ground. Eventually, they can respond faster, esoecually in the case of fires creeping into residential areas.
In February 2021, Edgybees announced a $9.5 million Series A round to drive product innovation and expand global adoption.
Founder/s: Emrah Gultekin, Hakan Gultekin
Founded year: 2015
Total funding: $27.4M
San Francisco-based startup Chooch AI uses a system that analyses satellite images every 10 minutes to identify new wildfires. The startup has developed an artificial intelligence image and video analytics platform, designed to offer computer vision. Its technology can be used by customers to help with workplace safety, satellite image analysis and image quality control.
Last year, Chooch AI picked up $20 million Series A funding from Vickers Venture Partners led the round with participation from 212, Streamlined Ventures, and others.
Founder/s: Lukky Ahmed, Kamil Kluza
Founded year: 2020
Total funding: $8.4M
London-based Climate X is a global climate risk data analytics provider. The company delivers EPC ratings for transition risk, location-specific risk ratings, and climate-adjusted loss estimates under multiple climate emission pathways. Their online platform and APIs service a broad range of customer types across financial services, real estate, and several large and listed enterprises.
Last year, the purpose-driven company empowering a more climate resilient future raised €6.3 million in funding. The round was led by CommerzVentures and A/O PropTech to use the new funding to service growing customer demand and expand the product offering.
Founder/s: Sonia Kastner
Founded year: 2019
Total funding: NA
Female-founded Pano AI from the US offers hardware and software solutions solely for firefighters. It helps fire professionals to detect threats and respond faster. Pano uses deep learning AI and computer vision to automatically detect, verify and classify wildfire events in real time. In late 2021, the company raised $6.5 million in funding.