LiveEO, a Berlin, Germany-based provider of satellite analytics, raised €19M in funding.
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. Existing shareholders participated in the round, 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.
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.
Led by Daniel Seidel and Sven Przywarra, LiveEO provides an infrastructure monitoring suite powered by satellite imagery. The company uses artificial intelligence 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 optimize the maintenance programs of core infrastructure assets, making them resilient to climate change.
Since its €5.25M Series A round in 2021, LiveEO has more than doubled its headcount, tripled its revenue, signed new customers across five continents, and strengthened its market-leading position in infrastructure monitoring.
FinSMEs
09/08/2022