Pano AI Raises $20 Million in Series A  

by Kay Aloha Villamor in September 20th, 2022

Pano AI, a San Francisco, CA-based company to offer a first fully-managed solution for active wildfire detection using artificial intelligence, raised $20 million in a Series A funding round led by Initialized Capital.

Congruent Ventures, Convective Capital, DCVC, January Ventures, Quiet Capital, Kevin Mahaffey (Founder of Lookout), Jade van Doren (former CEO of AllTrails), Mark Leslie (former CEO of Veritas Software), and Oleg Rogynskyy also participated in the round (Founder of People.ai).

Previous investors include Gitlab CEO Sytse Sijbrandij, OpenGov CEO Zac Bookman, Homelight CEO Drew Uher, and Joe Thomas (CEO of Loom) also participated in the round.

Kim-Mai Cutler, a partner at Initialized Capital, will join the board of directors in conjunction with this round.

Pano AI will use the funds to develop its AI-based approach to rapid wildfire detection, transforming how fire departments respond to new ignitions and preventing catastrophic wildfires.

The funding will also used to support talent acquisition and Pano AI's market expansion across additional high-risk areas in North America and Australia in order to protect lives, communities, and the environment from the growing threat of wildfires.

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're working to pioneer the field of climate change adaptation, so that we can help society cope with the increasing frequency and intensity of natural disasters. We're the first company to offer a fully-managed solution that delivers active wildfire detection using artificial intelligence. This investment will accelerate the geographical breadth of Pano's AI solution, enabling us to safeguard 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."

Company: Pano AI, Inc.

Raised: $20.0M

Round: Series A

Funding Month: September 2022

Lead Investors: Initialized Capital

Additional Investors: Congruent Ventures, Convective Capital, DCVC, January Ventures, Quiet Capital, Kevin Mahaffey, Jade van Doren, Mark Leslie, Oleg Rogynskyy, Sytse Sijbrandij, OpenGov, Drew Uher, and Joe Thomas

Company Website: https://www.pano.ai/

Software Category: Wildfire Management

About the Company:  Pano AI, founded in 2020, is the first disaster preparedness technology provider to offer a fully-integrated solution for active wildfire detection that employs artificial intelligence to assist fire authorities in identifying and extinguishing new ignitions before they become a threat. Pano AI, which leverages the most recent advancements in hardware, artificial intelligence, and cloud-based software, provides fire agencies with real-time actionable intelligence and situational awareness to coordinate an informed, rapid response to wildfires before they escalate, protecting lives, communities, and the environment. Pano AI has developed the most advanced product in the market since its inception; it has been deployed with utilities, governments, fire authorities, forestry companies, and other private landowners. Customers include Xcel Energy, Portland General Electric (PGE), Holy Cross Energy, the 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).

Source: https://www.globenewswire.com/news-release/2022/09/19/2518465/0/en/Pano-AI-Secures-Record-Breaking-Investment-to-Help-Fire-Agencies-Stop-Catastrophic-Wildfires.html




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