Overstory (previously 20tree.ai), an Amsterdam-based global vegetation intelligence platform, announced that it has closed a $3.9 million (approx €3.3M) Seed+ round, led by CapitalT and Moxxie Ventures.
The latest funding will enable Overstory to continue building its SaaS platform that helps prevent forest fires, deforestation, power outages to create a more sustainable environment.
The company will also use the funds to double down the usage of machine learning on satellite data and expand sales operations in the US.
Company: Overstory, Inc.
Round: Seed+ Round
Funding Month: November 2021
Lead Investors: CapitalT and Moxxie Ventures
Company Website: https://www.overstory.com/
Software Category: Vegetation intelligence platform
About the Company: Founded by Indra den Bakker, Overstory applies Artificial Intelligence (AI) to high-resolution satellite imagery to provide real-time analytics of natural resources. The insights offered on the quantity and quality of natural resources help improve decision-making by electric utility companies, forestry companies, and NGOs. The company’s platform identifies the location, height, health, and species of trees. It then alerts customers on where the riskiest trees are and need to be cut down or pruned because they are at risk of growing into or falling onto the power lines.