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Pano AI, a San Francisco-based company that uses artificial intelligence to detect wildfires, today announced that it has raised $17 million in growth funding. The round was led by Valor Equity Partners, with participation from Salesforce Ventures, T-Mobile Ventures, and the 5G Open Innovation Lab. The new funding brings Pano AI’s total raised to $45 million.
Pano AI’s platform uses a combination of mountaintop cameras, satellite feeds, artificial intelligence, and 5G connectivity to detect and pinpoint new wildfire ignitions. The company’s solution can detect wildfires up to 24 hours before they are visible to the naked eye, giving fire agencies valuable time to respond and prevent them from spreading.
The new funding will be used to accelerate Pano AI’s growth and expand its market reach. The company plans to use the funds to hire more staff, develop new products, and expand into new regions.
“The world has seen increasingly severe and frequent wildfires in recent years,” said Sonia Kastner, CEO and founder of Pano AI. “This incremental capital signifies our emerging market leadership and growing commercial traction and emphasizes the urgent need for innovative technologies that focus on climate adaptation.”
“We are excited to partner with Pano AI as they continue to develop their innovative wildfire detection solution,” said Michael Gelles, managing director at Valor Equity Partners. “Pano AI has the potential to make a significant impact on the fight against wildfires, and we are confident that they will be a leader in this space.”
Pano AI’s technology has already been deployed in several high-fire-risk areas, including California, Oregon, and Australia. The company has also partnered with several fire agencies, including the California Department of Forestry and Fire Protection (CalFire) and the U.S. Forest Service.
“Pano AI’s technology is a valuable tool for fire agencies,” said Ken Pimlott, director of CalFire. “It can help us detect wildfires early and respond more quickly, which can save lives and property.”
The funding announcement comes at a time when wildfires are becoming increasingly common and destructive. In 2022, wildfires burned more than 10 million acres in the United States, causing billions of dollars in damage.
Pano AI’s technology has the potential to help reduce the impact of wildfires. By detecting wildfires early, fire agencies can respond more quickly and effectively, preventing them from spreading and causing damage.
The company’s technology is also scalable, which means that it can be deployed in a variety of locations. This makes it a valuable tool for fire agencies around the world.
With the new funding, Pano AI is well-positioned to continue its growth and make a significant impact on the fight against wildfires. The company’s technology has the potential to save lives and property, and it is a valuable tool for fire agencies around the world.