LiveEO Secures €19 Million Funding to Bring Space Data Insights to Industry 4.0

0

LiveEO has announced that it has secured €19 million in funding in what is one of the largest investments to date in Earth observation in Europe.

The round was led by MMC Ventures and includes €17 million in venture capital, as well as additional funding from the European Commission and Investitionsbank Berlin. All existing shareholders continue to support LiveEO and 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.

Since its €5.25 million Series A funding round in 2021, the company has more than doubled its workforce, tripled its revenue, signed new customers on five continents and strengthened its position as a leader in the market in infrastructure monitoring.

Deep technology investor MMC has shown great interest in the NewSpace ecosystem and has identified Earth observation as a rapidly growing market. The investment cycle reflects this assessment.

The new funds will accelerate the company’s global market expansion for its infrastructure monitoring products and fund entry into new markets such as insurance. The new investor HDInv, under the leadership of Ulrich Wallin, will support product development and go-to-market for the insurance industry, where LiveEO can contribute to more informed decision-making.

Co-founder and co-CEO of LiveEO, Daniel Seidel
We are launching the third great wave of commercialization of the space industry. After huge investments in rockets and satellites over the past few years, it’s time for companies like ours to develop highly automated applications that translate data from hundreds of Earth observation satellites into real value for end users.

Sven Przywarra, co-founder and co-CEO of LiveEO
It is exciting to see that our vision, as well as our execution to date, has attracted interest and investment from leading venture capital firms as well as the public sector. We want to bring insights from space imagery to every global value chain and continue to focus on human-centric applications. This round of funding brings us one step closer to that goal.

Share.

Comments are closed.