Dryad, a provider of solar-powered environmental sensor networks for ultra-early wildfire detection and forest monitoring, has closed a €10.5 million Series A funding round, led by eCAPITAL. Additional investors include Toba Capital, Semtech and Marc Benioff’s TIME Ventures.
The funding will enable the company to scale its team, accelerate its go-to-market strategy, and deliver on its mission to fight climate change and protect forests around the world.
Dryad has spent more than two years developing its end-to-end Silvanet ultra-early wildfire detection and forest monitoring system, which incorporates low-cost sensors, solar-powered LoRa® based mesh networking infrastructure and a cloud analytics platform – a market first.
German deep tech venture capitalist (VC) eCAPITAL, which led the Series A funding round, has significant experience and expertise in high-tech scale-ups, providing a solid foundation for driving the growth trajectory of this innovative technology business.
The latest Series A round, with its broad and complementary investor base, provides additional liquidity, depth and stability following the first equity seeding stage, which raised €1.8 million and included strong investment and operational support from STIHL Digital, the venture capital arm of the famous chainsaw manufacturing company STIHL.
