LiveEO secures €19M to bring space data insights to Industry 4.0
MMC leads the €19m funding round in LiveEO, a leading provider of satellite analytics. The investment is one of the largest to date in Earth Observation in Europe.
LiveEO’s core product is 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 optimise the maintenance programmes of core infrastructure assets, making them increasingly resilient to climate change. In turn, this reduces travel disruptions, power outages and supply chain delays.
“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”Daniel Seidel, co-founder and co-CEO, LiveEO
“We want to bring insights derived from space imagery to every global value chain, and continue to focus on human-centred applications. This financing round brings us a significant step closer to that goal”Sven Przywarra, co-founder and co-CEO, LiveEO
Since its inception, LiveEO’s products have empowered its clients to streamline their maintenance operations, making them safer and more efficient, and saving thousands of tonnes of carbon emissions in the process.
Deep tech investor MMC has shown great interest in the NewSpace ecosystem, and identified Earth Observation as a fast-growing market. The investment round is a testament to this assessment.
“LiveEO offers a critical tool that paves the way for sustainable industry automation, and we wholeheartedly support the company’s vision to help companies adapt to the challenges posed by climate change”Andrei Dvornic, Principal, MMC Ventures
The new funds will accelerate LiveEO's global market expansion for its infrastructure monitoring products and fund entry into new markets such as insurance.
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