LiveEO secures €19 M to bring space data insights to Industry 4.0
Berlin-based provider of satellite analytics LiveEO says it will use the new funds to accelerate the global market expansion for its infrastructure monitoring products and fund entry into new markets such as insurance.
The round was led by MMC Ventures and includes €17 M of venture capital, as well as further funds from the European Commission and Investitionsbank Berlin. All existing shareholders continue to back LiveEO and have 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.
“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,” said co-founder and co-CEO of LiveEO, Daniel Seidel.
Learn more about LiveEO in our article “The New Space Age”.