Amsterdam-based Overstory has closed a $43M Series B round to accelerate the expansion of its AI-powered vegetation management platform used by major utilities. The investment was led by climate-tech firm Blume Equity, with participation from Energy Impact Partners LP (EIP), alongside returning backers including B Capital, Semapa Next, Pale Blue Dot, CapitalT, Convective Capital, Bentley Systems, MCJ, and Moxxie Ventures.
The company, founded in 2018 by Indra den Bakker and Anniek Schouten, applies artificial intelligence to satellite and remote sensing data, enabling utilities to detect wildfire and outage risks — down to identifying the specific tree or asset requiring intervention. Overstory is focused on reducing climate-driven threats such as extreme weather and wildfire ignition while improving grid reliability and operational efficiency.
Funds will support continued development of advanced AI risk models, wildfire prevention tools, and international expansion. Overstory has already grown to more than 80 specialists and works with six of the ten largest North American utilities. Its growth will now be supported by newly appointed Chief Operating Officer Tamara Mendelsohn, who brings extensive experience in scaling technology companies from startup to IPO.
Featured image: Credit: Overstory
