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Germany’s LiveEO takes off with €19M to help enterprises with space data

Image credits: LiveEO

LiveEO, a Berlin-based provider of satellite analytics, has secured €19M in funding, making it one of the largest investments in Earth Observation in Europe. 

MMC Ventures led the round with €17M of venture capital and further funds from the European Commission and Investitionsbank Berlin. Existing shareholders, including Dieter von Holtzbrinck Ventures (DvH Ventures), Helen Ventures, Matterwave, and motu ventures. Segenia Capital and Hannover Digital Investments (HDInv) have joined the round as new investors alongside MMC.

How will the funding be used?

The latest funds will accelerate LiveEO’s global market expansion for its infrastructure monitoring products and fund entry into new markets such as insurance. In addition, HDInv, a new investor, will support product development and go-to-market for the insurance sector. 

“It is exciting to see that our vision, as well as our execution so far, has attracted interest and investment from top-tier venture capital firms and the public sector. We want to bring insights from space imagery to every global value chain and continue focusing on human-centered applications. This financing round brings us a significant step closer to that goal,” says Sven Przywarra, co-founder and co-CEO of LiveEO.

The announcement comes a year after raising €5.25M in Series A round in 2021. Since then, LiveEO has more than doubled its headcount, tripled its revenue and signed new customers across five continents.

“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,” says co-founder and co-CEO of LiveEO, Daniel Seidel.

Bringing space data insights

The German company‘s core product is an infrastructure monitoring suite powered by satellite imagery. 

The company uses Artificial Intelligence (AI) to analyse Earth Observation data and gives operators of railways, power lines, and pipelines 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, reducing travel disruptions, power outages, and supply chain delays.

MMC Ventures

MMC funds and helps scale technology companies that are transforming today’s industries. It has backed transformative tech companies at the Seed and Series A stages since 2000.

“We are excited to lead this round for LiveEO, and it 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,” says Andrei Dvornic, Principal at MMC Ventures.

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