Armed with $19.5 million, LiveEO charts a big data journey from satellite geospatial information to industry
When it comes to geospatial and map data and how it is used by organizations, satellites continue to play a vital role when it comes to obtaining raw information . However, getting that raw data into a usable state for businesses is another story. Now, a Berlin-based startup called LiveEO, which has built a satellite analytics platform to do just that, has raised 19 million euros ($19.5 million) thanks to strong demand for its technology from companies working in transport and energy infrastructure.< /p>
The rise of companies like LiveEO follows a period of rapid commercialization of infrastructure for use in space, characterized by companies like SpaceX but also others building, for example, a new wave of satellites themselves. As with the broader enterprise computing opportunity, big data players like LiveEO are essentially the second wave of this development: applications built on top of this infrastructure.
Image credits: LiveEO (opens in a new window) under a CC BY 2.0 ( opens in a new window) license.
“Somebody has to build apps for end users to make them really easy to use and get that data into the processes,” explained Daniel Seidel (left), who co-founded and co-led LiveEO with Sven Przywarra (right). "That's what we do on a large scale."
MMC Ventures is leading the investment, which is not tied to a specific round, and in addition to €17m in venture capital, the round also includes backing from two public bodies, the European Commission and Investitionsbank Berlin . Former backers Dieter von Holtzbrinck Ventures (DvH Ventures), Helen Ventures, Matterwave and motu ventures, as well as new backers Segenia Capital and Hannover Digital Investments (HDInv), are also participating. LiveEO previously raised €5.25m Series A in 2021, and it said that over that time it had tripled its revenue with clients on five continents and more than doubled its headcount to around 100, with more than half of these engineers and data scientists. /p>
As a German startup, LiveEO is part of a small group of growing startups in Europe that is taking advantage of the growing interest in the space among investors in recent years, despite greater funding pressures technologies. Relatively speaking, however, the sums are still modest compared to other areas of technology: LiveEO claims that this €19 million round is one of the largest in the field of Earth observation technology. Earth in Europe. LiveEO is focused on enterprise applications, particularly industrial for its analytics - although given the geopolitical landscape and how this is bringing in a new crowd of interested parties playing the role of financiers to drive its growth, it will be interesting to see how it develops.
LiveEO's platform bridges a specific gap between space technology and enterprise data. Satellites are collectively producing more data about our world than ever before, covering not only physical objects in great detail, but also thermal progressions, how systems move, a...
When it comes to geospatial and map data and how it is used by organizations, satellites continue to play a vital role when it comes to obtaining raw information . However, getting that raw data into a usable state for businesses is another story. Now, a Berlin-based startup called LiveEO, which has built a satellite analytics platform to do just that, has raised 19 million euros ($19.5 million) thanks to strong demand for its technology from companies working in transport and energy infrastructure.< /p>
The rise of companies like LiveEO follows a period of rapid commercialization of infrastructure for use in space, characterized by companies like SpaceX but also others building, for example, a new wave of satellites themselves. As with the broader enterprise computing opportunity, big data players like LiveEO are essentially the second wave of this development: applications built on top of this infrastructure.
Image credits: LiveEO (opens in a new window) under a CC BY 2.0 ( opens in a new window) license.
“Somebody has to build apps for end users to make them really easy to use and get that data into the processes,” explained Daniel Seidel (left), who co-founded and co-led LiveEO with Sven Przywarra (right). "That's what we do on a large scale."
MMC Ventures is leading the investment, which is not tied to a specific round, and in addition to €17m in venture capital, the round also includes backing from two public bodies, the European Commission and Investitionsbank Berlin . Former backers Dieter von Holtzbrinck Ventures (DvH Ventures), Helen Ventures, Matterwave and motu ventures, as well as new backers Segenia Capital and Hannover Digital Investments (HDInv), are also participating. LiveEO previously raised €5.25m Series A in 2021, and it said that over that time it had tripled its revenue with clients on five continents and more than doubled its headcount to around 100, with more than half of these engineers and data scientists. /p>
As a German startup, LiveEO is part of a small group of growing startups in Europe that is taking advantage of the growing interest in the space among investors in recent years, despite greater funding pressures technologies. Relatively speaking, however, the sums are still modest compared to other areas of technology: LiveEO claims that this €19 million round is one of the largest in the field of Earth observation technology. Earth in Europe. LiveEO is focused on enterprise applications, particularly industrial for its analytics - although given the geopolitical landscape and how this is bringing in a new crowd of interested parties playing the role of financiers to drive its growth, it will be interesting to see how it develops.
LiveEO's platform bridges a specific gap between space technology and enterprise data. Satellites are collectively producing more data about our world than ever before, covering not only physical objects in great detail, but also thermal progressions, how systems move, a...
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