2018-founded Overstory offers predictive solutions based on artificial intelligence that can prevent wildfires, protect biodiversity and that can also help authorities make informed decisions on natural resources, says ESG Today.

Amsterdam-based Overstory has customers in multiple regions across the globe, such as the US, Canada and Europe.

Company officials say that the recent investment will help them further build the platform which provides electric utilities with visibility, risk analysis and optimization recommendation for vegetation management through satellite-based AI.

Indra den Bakker, CEO and Co-founder of Overstory, said that "because the specialized AI that we developed integrates with existing data and workflows, our utility customers can immediately spot the areas along their power lines where there are risks of wildfires and outages."