SAN FRANCISCO, Calif., Sept. 19, 2022 (GLOBE NEWSWIRE) — Panoramic AIthe first company to deliver a fully managed solution for active wildfire detection using artificial intelligence, raised $20M in Series A funding led by Initialized Capital. Other tour participants include Congruent companies, Convective capital, DCVC, January companies, Calm Capital, Kevin Mahaffey (founder of Lookout), Jade van Doren (former CEO of AllTrails), Mark Leslie (former CEO of Veritas Software) and Oleg Rogynskyy (founder of People.ai). Previous investors include Sytse Sijbrandij (CEO of Gitlab), Zac Bookman (CEO of OpenGov), Drew Uher (CEO of Homelight) and Joe Thomas (CEO of Loom). Along with this round, Kim-Mai Cutler, partner at Initialized Capital, will join the board.
All wildfires start small, so the key to mitigation is detecting new ignitions early so first responders can stop them before they grow. As the leader in disaster preparedness technology, Pano AI offers the first fully managed solution that combines advanced hardware, artificial intelligence and easy-to-use cloud-based software to provide fire departments with intelligence actionable and up-to-the-minute situational information. sensitization. This helps first responders get to the scene faster and safer, with the right equipment, the latest information and improved coordination, so they can stop a new ignition in its tracks.
Kim-Mai Cutler said: “We have seen the real impacts of climate change across the world as increasingly severe wildfires cause widespread devastation. Pano AI’s solution combines existing hardware with computer vision in a way that can be quickly implemented and scaled, meaning we can start mitigating and preventing deadly wildfires as soon as possible. today.
Pano AI will use the funding to continue advancing its AI-based approach to early wildfire detection, transforming how fire departments respond to new ignitions and prevent catastrophic wildfires. The funding will support talent acquisition and facilitate the market expansion of Pano AI into other high fire risk areas in North America and Australia to protect lives, communities and the environment from the growing threat of forest fires.
Sonia Kastner, CEO and Founder of Pano AI, said: “The climate crisis is happening now and humanity needs to start adapting today. At Pano AI, we strive to be pioneers in the field of adaptation to climate change, in order to help society cope with the increasing frequency and intensity of natural disasters. We are the first company to offer a fully managed solution that offers active wildfire detection using artificial intelligence. This investment will accelerate the geographic reach of Pano’s AI solution, allowing us to protect more communities from these climate-caused emergencies. We are grateful for the support of our investors at this critical time, as we face increasingly dangerous fire seasons around the world. »
In the two years since its inception, Pano AI has developed the most advanced product on the market and deployed it to utilities, governments, fire departments, logging companies and other landowners. private. Pano AI operates in five US states (California, Colorado, Oregon, Idaho and Montana) and two Australian states (New South Wales and Queensland), with customers such as Xcel Energy, Portland General Electric (PGE), Holy Cross Energy , Big Sky Fire Department, Aspen Fire Protection District, Forestry Corporation of NSW (Australia), Southern Cross Forests (Australia) and Noosa Council’s FireTech Connect program (Australia).
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Pano AI is the first disaster preparedness technology provider to offer a fully integrated solution for active wildfire detection using artificial intelligence to help fire departments identify and extinguish new fires before they start. do not become a threat. Leveraging the latest developments in cloud-based hardware, artificial intelligence, and software, Pano AI provides fire departments with real-time actionable intelligence and situational awareness to coordinate a rapid and informed response to fires. of forest before they get worse, protecting lives, communities and the environment .
About initialized capital
Initialized Capital is an early-stage venture capital firm that invests with conviction before it’s obvious. We are a diverse group of founders, builders and operators who understand how difficult it is to build a business. We back visionaries who use software to improve civilization and support them through adaptation to the product market and beyond. We are the first to believe in companies like Coinbase, Instacart, Flexport and Cruise. Initialized’s portfolio, which spans six major funds, is worth nearly $200 billion in market value, with 25 companies valued at $1 billion or more and 5 valued at more than $10 billion.
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