Insider Brief:
- LiveEO has secured €25 million in Series B funding to expand its capabilities in turning satellite data into practical insights.
- The funding round was led by NordicNinja and DeepTech & Climate Fonds (DTCF).
- New investors include MMC Ventures and Dieter von Holtzbrinck Ventures.
LiveEO, a Berlin-based company, has secured €25 million in Series B funding to expand its capabilities in turning satellite data into practical insights. This funding round, led by NordicNinja and DeepTech & Climate Fonds (DTCF), aims to boost the company’s growth and enhance its advanced data solutions.
Founded in 2018, LiveEO focuses on using satellite data to provide critical insights that help industries manage climate risks and improve resilience. By converting fragmented satellite data into actionable information, LiveEO enables businesses to monitor environmental changes, such as vegetation growth and ground movements, that affect infrastructure and compliance.
LiveEO’s platform leverages high-resolution satellite technology and sophisticated AI to provide real-time analytics. This includes detecting and responding to weather events and environmental risks, like vegetation encroachment on power lines or land deformation near railways. The platform’s capabilities have helped significant clients like Deutsche Bahn and Network Rail manage and protect their assets. Additionally, it has supported a Nigerian pipeline operator in tackling oil theft and aided in reducing illegal logging in Moldova.
The recent funding will support LiveEO’s mission to scale its operations and continue to deliver essential insights across industries. This includes helping businesses reduce their carbon footprint and adhere to evolving regulations. The company has seen impressive growth, tripling its size over the past year and expanding its team to around 130 employees.
With new investors on board, including MMC Ventures and Dieter von Holtzbrinck Ventures, LiveEO is set to lead in the Earth Observation market, which is projected to reach $14.6 billion by 2034.
Image source: LiveEO
