TiE Vancouver’s TiE Incubation Lab announced today that its first successful startup graduate has secured USD $1 million in funding for its AI-powered wildfire detection platform.
SenseNet seamlessly merges data from diverse sources such as sensors, cameras, satellites, historical data, weather stations, topography data, railways maps, campsites maps, city infrastructures maps to provide unparalleled insights and effective early wildfire detection, monitoring, management, and decision making.
The wildfire platform‘s technology is also highly durable and efficient, with a lifespan of 5-10 years, versus 6 months for batteries in other current systems.
“TiE was very helpful in providing strategic advice on go to market, product market fit and effective communication with investors,” said SenseNet founder and CEO, UBC PhD electrical and civil engineering grad, Dr. Hamed Noori on participating in the flagship TiE Incubation Lab.
“Their experts have a lot of experience in funding, fundraising and building companies and were able to act as a sounding board.”
The first round of TiE Incubation Lab yielded over 1,000 applicants and with the second cohort applications open till July 31st, Dhaliwal encourages Canadian founders to apply right away.
“Seeing the first graduate of TiE Incubation Lab secure $1M USD in investment capital and others in the first cohort making great progress towards securing seed funding proves our model works – effectively, efficiently and at scale,” says Dhaliwal.
“We’re impressed by the potential of SenseNet and the ingenuity of the founding team, and I’m excited to soon share details on other successful projects from TiE Incubation Lab.”
TiE Incubation Lab is currently open to all Canadian startups, with a special preference for health tech, climate tech, AI and cyber security given the current and projected global funding trends. The companies meeting the fundability criteria at the end of the six-month program are provided access to the worldwide investor network of TiE Global Angels plus plus TiE’s extended global investor networks.
On TiE Incubation Lab’s funding formula, Dhaliwal shares, “Our strategy is simple, the Incubation Lab takes high potential early stage startups that are offering innovative, high-impact solutions to real-world problems and de-risks them for investors through mentorship from founders with successful exits, senior executives and global experts in their industry sector, and puts them in front of the world’s largest pool of angel investors, TiE Global Angels, plus TiE’s extended global investor networks in Canada, US and worldwide.”