Super Early Wildlife Detection Company of the Week dryad network announced a successful first closing of €5.6 million in a convertible funding round with a total round size of up to €10 million.
Dryad Networks’ unique solution combines solar power infrastructure with state-of-the-art AI-enabled gas sensors strategically placed in forested areas. This advanced system detects wildfires in their early stages, enabling rapid response and mitigation efforts. Therefore, it ultimately saves lives, property, and natural habitats.
Carsten Brinkschulte, CEO of Dryad Networks, said:
“We are pleased to announce the completion of the first €5.6 million in convertible financing, with the support of both existing and new investors.
This significant investment is a strong endorsement of Dryad’s technology solutions and the company’s market position and potential.
With this funding, we are well-positioned to accelerate the development and deployment of wildfire detection technology, bringing us closer to our mission of protecting communities and ecosystems from the devastating effects of wildfires. Masu. ”
Dryad Networks’ innovative approach to wildfire detection is gaining attention and recognition from a variety of stakeholders, including environmental protection, fire protection, and government agencies. Its core product, his Silvanet, is currently deployed in more than 20 countries around the world, including North America, Europe, and Asia, and to date he has shipped 30,000 sensors.
The company remains committed to advancing technology, expanding its network of deployed sensors, and building strategic partnerships to strengthen wildfire management and resiliency efforts globally.
Dryad aims to reduce unwanted wildfires, which cause up to 20% of global CO2 emissions and destroy biodiversity. Dryad says that by 2030 he aims to prevent 3.9 million hectares of forest fires and 1.7 billion tons of CO2 emissions.
This funding is an important milestone for the company and is a prelude to a Series B funding round targeting €15-20 million, expected later this year.
The convertible funding round had participation from both existing and new investors.
Lead image: Dryad Networks. Photo: No credit.
