Dryad Networks, a German-based startup, specialising in early wildfire detection technology, has
secured €5.6 million in a convertible financing round, with a total round size of up to €10 million.
This is a prelude to the company’s anticipated Series B funding round later this year, targeting €15- 20 million. This round follows the €10.5 million Series A funding that Dryad Networks raised back in 2022. The convertible financing round saw participation from both existing and new investors. Some of its previous investors include eCAPITAL, Toba Capital, Marc Benioff’s TIME Ventures, and Semtech.
With this funding, Dryad Networks plans to revolutionise wildfire detection and prevention efforts
worldwide. It will further accelerate the development and deployment of its wildfire detection
technology, taking it close to its mission of safeguarding communities and ecosystems against the devastation caused of wildfires.
https://techfundingnews.com/dryad-networks-grabs-e5-6m-for-solar-powered-ai-enabled-sensor-preventing-wildfires/
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