Polish fire detection software SmokeD receives $2.5M from EEC Ventures

The Warsaw-based SmokeD has received a $2.5 million investment from the EEC Ventures fund. The company develops wildfire detection software based on AI models, MamStartup reports.

• Founded in 2020 by Artur Matuszczak, SmokeD creates intelligent software and AI models for the early detection of forest fires. The system works on its hardware, as well as on detectors from other manufacturers. SmokeD is more focused on selling software than hardware.
• EEC Ventures led the convertible note round. It is a Warsaw-based independent venture capital company managing two funds valued at about $45 million. The company mainly invests in energy, industry 4.0., environment, utilities, and advanced materials sectors.
• In April 2020, SmokeD raised its seed funding round from the KnowledgeHub fund. According to Crunchbase, the startup’s total funding amounts to $3.7 million.
• Using the funding, the company wants to significantly increase its sales in the United States within the next few months.