#None #Amsterdam #Wildfire Prevention #Blume Equity #Overstory

Overstory Secures Funding for AI-Driven Solutions

Overstory, a leading company in vegetation intelligence aimed at the utility sector, has announced the successful closing of a $43 million Series B funding round. This significant investment round was led by the European climate-tech growth equity firm, Blume Equity, with contributions from Energy Impact Partners and other existing investors. The funding will enable Overstory to advance its AI-driven risk assessment models and enhance its wildfire prevention technologies.

Vegetation management is crucial for utility companies, as it is often a major factor in power outages and wildfires, and it constitutes one of their largest operational expenses. With factors like increased tree mortality, rising labor costs, and more extreme weather events, Overstory is stepping up to provide a smarter approach to vegetation management. By utilizing high-resolution satellite data coupled with AI capabilities, the company enables utilities to identify risks on a tree-by-tree basis, thus minimizing outages and preventing potential wildfires.

Andy Abranches, VP for Wildfire Mitigation at Pacific Gas and Electric Company (PGE), emphasized the transformative impact of Overstory’s innovative solutions. He highlighted that advanced satellite data and vegetation management intelligence from Overstory are reshaping how utilities approach wildfire mitigation.