Bringing space insights to Industry 4.0., Berlin-based satellite analytics startup LiveEO has raised €19 million in a fresh round of investment. The funding will accelerate market uptake of bringing insights derived from space imagery to every global value chain, translating data from hundreds of Earth Observation satellites into real value for end-users.
According to the company, the deal is one of the largest investments to date in Earth Observation in Europe. Leading the funding was MMC Ventures with €17 million of venture capital with participation from European Commission and Investitionsbank Berlin. All existing shareholders also participated in the round, including Dieter von Holtzbrinck Ventures (DvH Ventures), Helen Ventures, Matterwave, and motu ventures. Segenia Capital and Hannover Digital Investments (HDInv) joined the round as new investors alongside MMC.
Even during a challenging macro environment, the deal is a testament of the interest in the NewSpace ecosystem and Earth Observation as a growing market.
Founded in 2018, the company is aimed at improving life on earth by harnessing the power of space data. Its flagship core product is an infrastructure monitoring suite powered by satellite imagery.
Using AI to analyse Earth Observation data, it is able to give railway, power lines and pipeline operators actionable information on the risk posed by vegetation, ground deformations, or third parties. The software enables customers to optimise the maintenance programmes of core infrastructure assets, making them increasingly resilient to climate change. In turn, this reduces travel disruptions, power outages and supply chain delays
Since its €5.5 million Series A round in 2021, the German space tech has doubled its headcount, tripled its revenue, signed new customers across five continents, and strengthened its market-leading position in infrastructure monitoring.
Daniel Seidel, co-founder and co-CEO of LiveEO, said: “We are kicking off the third big wave of commercialisation of the space industry. After huge investments in rockets and satellites in the past years, it is time for companies like us to develop highly automated applications which translate data from hundreds of Earth Observation satellites into real value for end-users.”
Sven Przywarra, co-founder and co-CEO of LiveEO, added: “Our vision and execution so far have attracted investment from both top-tier venture capital firms as well as the public sector. We want to bring insights derived from space imagery to every global value chain, and continue to focus on human-centred applications.”
Andrei Dvornic, principal at MMC Ventures, added: “The funding reflects MMC’s continued focus on emerging datasets and companies that develop AI analytics to power core business decisions. LiveEO offers a critical tool that paves the way for sustainable industry automation, and we wholeheartedly support the company’s vision of leveraging satellite technologies, big data, and the latest developments in artificial intelligence to help companies adapt to the challenges posed by climate change.”
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