Munich-based geodata startup CloudEO has raised €2.4 million from anonymous investors. The platform brings together users of geoservices, developers of geoservices, and providers of geodata and geosoftware to produce greater value from geodata.
The startup has access to data through various satellite providers. "We do not own satellites - and instead bind a variety of data sources," said founder Manfred Krischke, as reported by Grunderszene.
CloudEO's geodata can be used in a number of industries. For example, in agriculture, farmers can use the data to analyse biomass development, crop vitality and yield, or soil erosion. It can be used in forestry to map timber volumes, or in the maritime business to track ships.
Customers of CloudEO can have access to imagery, elevation data, maps, software and analytics on a pay-per-use basis. According to the company, 600 companies are already registered on the platform. Along with the funding round, the startup has announced that it is establishing its own currency with which people can buy and sell geodata on its platform.
Read more: Grunderszene (German)