LiveEO has secured €19m in funding, a sum that the firm says is one of the largest investments to date in Earth Observation in Europe.
A statement from the firm said the round was led by MMC Ventures and includes €17M of venture capital, as well as further funds from the European Commission and Investitionsbank Berlin. All existing shareholders continue to back the company and have participated in the round, including DvH Ventures, Helen Ventures, Matterwave, and motu ventures. Segenia Capital and HDInv have joined the round as new investors alongside MMC.
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.”
The firm said that the new funds will accelerate its global market expansion for its infrastructure monitoring products, while funding entry into markets including insurance. According to its website, it aims to bring AI-driven satellite monitoring solutions to enterprises around the world.
New investor HDInv under leadership of Ulrich Wallin, will support product development and go-to-market for the insurance sector, where LiveEO can contribute to better-informed decision making.
