LiveEO, a Berlin, Germany-based company using high-resolution satellite data and AI to transform raw satellite data into automated actionable insights, raised €25M in Series B funding.
The round was led by NordicNinja and DeepTech & Climate Fonds (DTCF). They joined existing investors MMC Ventures, Dieter von Holtzbrinck Ventures (DvH Ventures), Helen Ventures, Matterwave, motu ventures, Segenia Capital, Hannover Digital Investments and more.
The company intends to use the funds to accelerate the development of its solutions, and expand its team and capabilities.
Founded in 2018, LiveEO uses high-resolution satellite data and proprietary AI-powered algorithms to generate accurate, timely, and actionable insights that help critical infrastructure operators manage climate risks and resilience. The platform uses satellite technology – including multispectral and Synthetic Aperture Radar (SAR) to deliver high-resolution, analytics – with advanced AI to convert the trove of EO data into usable formats and timely, actionable insights. It can help businesses detect and respond to extreme weather events and deforestation in near real-time, and monitor and manage environmental risks that affect infrastructure, such as vegetation encroachment on power lines or ground deformation near railways. Also, it can help companies reduce their carbon footprint, remain compliant in the face of ever-evolving regulations and increase their climate resilience.
The platform already helps customers from Europe, US, Japan and Australia detect and respond to critical events in real-time as well as predictive monitoring and management of environmental risks
FinSMEs
25/06/2024