Overstory raises €14 million for wildfire and biodiversity protection
In response to mounting climate challenges, Amsterdam-based tech startup Overstory utilises AI to battle wildfires and preserve biodiversity. A recent €14 million investment, bringing their total to €25 million, is dedicated to expanding their vegetation intelligence platform. In a year defined by extreme climate events, Overstory's mission to safeguard the environment becomes even more pressing.
Using AI to its green potential
Overstory, founded by Anniek Schouten and Indra Dan Bekker is a tech start up that uses AI to build technology that mitigates wildfires and safeguards biodiversity. The €14 million brings their total investment to a total €25 million – the latest investment will be focused on growing their leading vegetation intelligence platform and expanding the team.
Overstory uses AI technology to analyse satellite imagery and climate data, extracting intricate information about trees and shrubs. As vegetation stands as the primary cause of power outages and electric-induced wildfires, Overstory uses their AI program to gather comprehensive insights, risk assessments and optimisation guidelines for effective vegetation management.
Overstory’s tech is more important than ever before
Scientists predict that 2023 will be one of the hottest years on record since data collection began in 1850. In 2023, a total of 468,289 hectares of land in Europe were scorched by fires. This makes Overstory's mission more crucial than ever. Since its founding, Overstory has actively monitored around 2 million acres, and protected $6 billion of utility assets which includes assets such as power stations, gas pipelines, and electricity cables, which are too often affected by natural disasters such as wildfires and flash flooding.
Karen Page, General Partner at B Capital comments “Utility companies now have an acute problem with the confluence of catastrophic wildfires, extreme weather, power outages and a changing climate. This has forced these providers to adjust the way they work and ultimately take a more data-driven approach”. Due to the changing climate, more companies will need to rely on AI driven technology like Overstory’s to maintain smooth and efficient operations.
Amsterdam startups focused on a sustainable future
With Amsterdam as a hub for innovative startups focused on sustainability – it’s no surprise that Overstory have succeeded in their investment round, and they’re not the only one. Overstory joins Amsterdam based companies such as Ecochain who secured a €3 million investment earlier this year, whose mission is to help companies produce sustainability sourced products using their software.
Meteory is another forward thinking Dutch business that harnesses satellite data to track environmental changes, securing a €550k investment led by Shamrock Ventures. With this much sustainable innovation being based in Amsterdam, it’s clear that the Netherlands is playing a key part when it comes to the health of our planet.