Dryad Networks "Internet of the Forest" secures €5.6M for its advanced wildfire detection

This week ultra-early wildlife detection company Dryad Networks announced the successful initial closing of €5.6 million in a convertible financing round, with a total round size of up to €10 million. 

Dryad Networks' proprietary solution combines solar-powered infrastructure with state-of-the-art AI-enabled gas sensors strategically placed in forested areas. This advanced system detects wildfires at their earliest stages, enabling rapid response and mitigation efforts. Thus, it ultimately saves lives, property, and natural habitats.

Carsten Brinkschulte, CEO of Dryad Networks, stated: 

"We are thrilled to announce the initial closing of €5.6 million in convertible financing, with the support of both existing and new investors. 

This substantial investment serves as a strong endorsement of Dryad's technological solution and the company's market position and potential.

With this funding, we are well-positioned to accelerate the development and deployment of our wildfire detection technology, bringing us closer to our mission of safeguarding communities and ecosystems against wildfires' devastating impacts."

Dryad Networks' innovative approach to wildfire detection has garnered attention and recognition from stakeholders across various sectors, including environmental conservation, firefighting agencies, and governmental bodies. Its core product, Silvanet, is currently deployed in more than twenty countries worldwide, including North America, Europe, and Asia, and 30,000 sensors have been shipped to date.

The company remains committed to advancing its technology, expanding its network of deployed sensors, and forging strategic partnerships to enhance wildfire management and resilience efforts globally.

Dryad aims to reduce unwanted wildfires, which cause up to 20% of global CO2 emissions and devastate biodiversity. By 2030, Dryad aims to prevent 3.9 million hectares of forest from burning, preventing 1.7 billion tonnes of CO2 emissions. 

This financing marks a significant milestone for the company and serves as a prelude to its anticipated Series B funding round later this year, targeting €15-20 million.

The convertible financing round saw participation from both existing and new investors.

Lead image: Dryad Networks. Photo: uncredited.