Dryad raised €10.5 million in a Series A funding round led by eCAPITAL and joined by Toba Capital, TIME Ventures, and Semtech.

Dryad Networks, a Berlin (Eberswalde), Germany-based provider of solar-powered environmental sensor networks for ultra-early wildfire detection and forest monitoring, completed series A investment, closed at €10.5 million ($10.7M).

The money was raised from investors led by eCAPITAL and joined by US-based Toba Capital, Marc Benioff’s TIME Ventures, and Semtech.

Proceeds will be used to scale its team, accelerate its go-to-market strategy, and deliver on its mission to fight climate change and protect forests around the world.

Dryad Networks, founded in 2019 by CEO Carsten Brinkschulte and Marco Bönig, develops a large-scale IoT network that allows public and private forest owners to monitor, analyze and protect the world’s largest, most remote forests. The product include the end-to-end Silvanet, an ultra-early wildfire detection and forest monitoring system, which incorporates low-cost sensors, solar-powered LoRa based mesh networking infrastructure and a cloud analytics platform.

Prior to this round, Dryad raised €1.8 million in 2020 from a range of German strategic investors including STIHL Group, through its corporate venture arm STIHL Digital and the German energy firm LEAG. They were complemented by funds provided by the impact investor ISAR AG and by the VC firm Brandenburg Kapital, a subsidiary of Brandenburger Förderbank ILB.