Super early wildlife detection company this week Dryad Network Announced the successful completion of the first round of convertible financing of 5.6 million euros, bringing the total financing scale to 10 million euros.
Dryad Networks’ proprietary solution combines solar infrastructure with state-of-the-art artificial intelligence gas sensors strategically placed in forested areas. This advanced system detects wildfires at their earliest stages, allowing for rapid response and mitigation efforts. Therefore, it ultimately saves lives, property, and natural habitats.
Dryad Networks CEO Carsten Brinkschulte said:
“We are pleased to announce the initial closing of a €5.6 million convertible financing with support from existing and new investors.
This huge investment is a strong recognition of Dryad’s technology solutions and the company’s market position and potential.
With this funding, we will be able to accelerate the development and deployment of wildfire detection technology, bringing us closer to our mission of protecting communities and ecosystems from the devastating impacts of wildfires. “
Dryad Networks’ innovative approach to wildfire detection has earned the attention and recognition of stakeholders across a variety of sectors, including environmental protection, firefighting agencies and government agencies. Its core product Silvanet has been deployed in more than 20 countries around the world, including North America, Europe, and Asia, and 30,000 sensors have been shipped so far.
The company remains committed to advancing its technology, expanding its deployed sensor network, and forming strategic partnerships to enhance global wildfire management and recovery efforts.
Dryad aims to reduce unnecessary wildfires, which contribute up to 20% of global CO2 emissions and destroy biodiversity. By 2030, Dryad aims to prevent 3.9 million hectares of forest from burning, thus reducing CO2 emissions by 1.7 billion tons.
The financing marks a major milestone for the company and kicks off its expected Series B funding later this year, targeting €15-20 million.
The convertible financing round attracted participation from existing and new investors.
Main image: Dryad Networks. Photo: Uncredited.