LiveEO raises 19 million euro investments

Berlin-based start-up LiveEO raises €19 million in an investment round. According to the company, this is one of the largest investments in Europe in the Earth observation sector. What is good for LiveEO is crucial for dealing with the consequences of climate change.

In 2021, the team around the two CEOs Daniel Seidel and Sven Przywarra was already able to raise 5.25 million in a Series A financing round. In the current round, 2 million euros came from the European Commission and Investitionsbank Berlin. However, the majority of 17 million euros is venture capital raised under the leadership of MMC Ventures. This is proof that LiveEO's portfolio meets a need that will become even more relevant in the future. After all, observing the Earth from space is essential in dealing with the consequences of climate change.

Wir starten die dritte große Kommerzialisierungswelle der Raumfahrtindustrie. Nach enormen Investitionen in Raketen und Satelliten in den letzten Jahren ist es für Unternehmen wie uns an der Zeit, hochautomatisierte Anwendungen zu entwickeln, die Daten von Hunderten von Erdbeobachtungssatelliten in echten Wert für Endbenutzer umwandeln.

Daniel Seidel, Co-CEO LiveEO

Success story Earth observation

This is also reflected in the company's development: Following the 2021 financing round, LiveEO was able to more than double the number of employees, triple sales and win new customers on five continents. The Berlin-based company has thus strengthened its market-leading position in the field of infrastructure monitoring. This is because satellite data can be used to plan maintenance work more efficiently, for example on rail lines or power lines, thus saving thousands of tons of CO2.

Es ist spannend zu sehen, dass unsere Vision sowie unsere bisherige Umsetzung Interesse und Investitionen sowohl von hochrangigen Risikokapitalgesellschaften als auch vom öffentlichen Sektor geweckt haben. Wir wollen aus Weltraumbildern gewonnene Erkenntnisse in jede globale Wertschöpfungskette einbringen und uns weiterhin auf menschenzentrierte Anwendungen konzentrieren. Diese Finanzierungsrunde bringt uns diesem Ziel einen entscheidenden Schritt näher.

Sven Przywarra, Co-CEO LiveEO

Detect more with AI and BigData

To achieve this, LiveEO relies not only on satellite data but also on the latest software technologies such as artificial intelligence (AI) and big data. The big advantage: potential hazards can be identified at an early stage - which offers particular added value for insurers.

The insights that can be gained from satellite data and the corresponding analysis are shown by LiveEO, among others, in a cooperation with WirtschaftsWoche in the series "Wirtschaft von oben" ("Economy from above").

Header Image Credit: LiveEO
Written by M. Weissflog
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