Artificial intelligence (AI)-powered wildfire detection startup Pano AI has announced the close of a $44 million Series B funding round, bringing its total amount raised to $89 million. The round was led by new investor Giant Ventures, with additional new participation from Liberty Mutual Strategic Ventures and Tokio Marine Future Fund, as well as continued support from Congruent Ventures, Initialized Capital, and Salesforce Ventures.
Pano AI utilizes deep learning artificial intelligence (AI) and computer vision to automatically detect, verify, and classify wildfire events in real-time. The company, founded in 2020, intends to use the new influx of capital to accelerate the adoption and deployment of its AI-powered wildfire detection and intelligence solution at scale.
“What our company does is really try to bring the latest in technology- artificial intelligence, ultra high resolution cameras- to provide actionable intelligence to fire agencies, utilities, and others,” Pano AI chief commercial officer Arvind Satyam explained to Paul Gerke of Factor This at DISTRIBUTECH (DTECH) in March.
The company is already trusted by 15 electric utilities in the United States, including major service providers like Arizona Public Service (APS), Portland General Electric (PGE), and Xcel Energy.
“At Portland General Electric, we’re focused on strengthening grid resilience while working in close partnership with the communities we serve,” explained Maria Pope, president and CEO of PGE. “Pano AI’s early detection technology gives us the real-time visibility we need to reduce our risk from wildfire threats. It’s a critical element of our broader strategy to protect people, infrastructure, and essential service during increasingly complex fire seasons.”
Pano AI supports more than 250 first responder agencies at the federal, state, and local levels, providing early detection and situational awareness in parts of 10 U.S. states, and in a few more in Australia and British Columbia. Pano AI also partners with nearly 40 organizations across sectors, including government, renewable energy, forestry, ski resorts, and community associations.
The startup’s fresh funding round follows four consecutive years of revenue growth, with contracted revenue exceeding $100 million to support coverage of nearly 30 million acres worldwide.
“We founded Pano AI based on one core belief: that the time to adapt to extreme weather events is now,” said Sonia Kastner, co-founder and CEO of Pano AI. “Wildfires are becoming more frequent and more destructive every year, and we have built powerful tools to put in the hands of emergency managers on the front lines to help combat this crisis. This additional capital allows us to accelerate our mission to equip first responders with the best technology to protect communities, safeguard our critical infrastructure, and build a more resilient future.”
Utilities are paying close attention to the increasing frequency, speed, and severity of wildfires. In 2024 alone, wildfires burned nearly one billion acres globally, underscoring the scale and urgency of what is certainly a growing threat. By delivering continual, AI-powered smoke detection and real-time situational awareness, Pano AI is designed to help detect fires in their earliest stages, enabling first responders to coordinate a faster, more informed response.
“Pano AI is creating a new layer of resilience that will massively reduce the impact of increasingly frequent fire events,” reckons Cameron McLain, co-founder and managing partner at Giant Ventures.
The company’s technology has done so at least once. On June 16, 2024, there was a lightning strike during Red Flag conditions that ignited the Bear Creek Fire in a remote area of Bennett Mountain in Douglas County, Colorado. Pano AI was the sole source of early smoke detection, providing triangulated coordinates within minutes, which prompted emergency officials to launch a rapid helitack response. While a 40-person ground crew hiked more than two hours to reach the site, helicopters dropped nearly 18,000 gallons of water over a five-hour period. Early intelligence and immediate aerial response helped contain the fire to just three acres.
“In today’s wildfire environment, every minute counts,” said Mike Alexander, director of emergency management for the Douglas County Sheriff’s Office. “Pano AI gave us early confirmation and precise coordinates that allowed us to launch a rapid aerial and ground attack in a remote watershed that provides drinking water to over one million people. That critical lead time helped us contain the Bear Creek Fire before it became a more destructive event. Overall, Pano has become an essential part of how we conduct modern wildland fire fighting in Douglas County.”
Pano AI is also a founding member of the Association of Firetech Innovation, which supports the adoption of next-generation tools for wildfire detection, prevention, and response.