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Pano AI, a startup specializing in wildfire detection, has successfully raised an additional $17 million in a Series A extension round. The company’s innovative technology uses high-definition remote-controllable cameras and artificial intelligence to detect fires, often providing early warnings before the first 911 call is made. The new funding will support Pano AI’s mission to mitigate the escalating devastation caused by wildfires.
Pano AI’s Life-Saving Contribution
Pano AI’s technology is designed to monitor large areas of land for signs of fire. The company’s cameras can be manually operated or set to scanning mode, where they rotate at about one rotation per minute. The video footage is then analyzed by an AI, which looks for smoke and fire. If it detects anything, it raises an alarm.
The company’s technology was recently put to the test during the Kutch Road Fire in Yamhill County, Oregon. Pano AI was able to detect the fire and issue a warning 14 minutes before the first 911 call was made. This early detection and high fidelity of alerts allow emergency responders to mobilize resources more efficiently and effectively.
Funding and Strategic Partnerships
The Series A extension round, which followed last year’s $20 million Series A, was led by Valor Equity Partners. Strategic investors T-Mobile Ventures and Salesforce also participated in the round. The partnership with T-Mobile is particularly noteworthy as Pano AI uses the company’s 5G network and some of the same masts to mount its hardware.
Future Plans and Market Expansion
Pano AI plans to use the new funding to respond to international demand for its fire detection platform and to expand its product offering with a Series B financing in 2024. The company is currently operating in six states in the U.S. and two states in Australia, with early discussions underway in Europe.
As wildfires continue to pose a significant threat globally, Pano AI’s technology could play a crucial role in early detection and response. The company’s recent funding and strategic partnerships underscore the growing recognition of the importance of innovative solutions in combating the escalating devastation caused by wildfires.
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