LiveEO Secures €25 Million to Boost Satellite AI for Sustainability

LiveEO, a Berlin-based startup leveraging AI-powered satellite data for critical infrastructure and climate risk management, has raised €25 million in Series B funding. The round was led by NordicNinja and DeepTech & Climate Fonds (DTCF), as reported in the company's press release.

Founded in 2018, LiveEO transforms raw satellite data into actionable insights for businesses to manage climate risks and enhance resilience. The platform uses high-resolution satellite technology and proprietary AI algorithms to detect and respond to critical events in real-time, as well as provide predictive monitoring of environmental risks. The company's solutions are already being used by major infrastructure operators in Europe, the US, Japan, and Australia.

The funding will accelerate the development of LiveEO's cutting-edge solutions, including its latest offering, TradeAware. This solution helps companies comply with the EU Deforestation Regulation (EUDR) by monitoring deforestation risks in supply chains.

Rainer Sternfeld, Partner at NordicNinja, commented on the investment: "The LiveEO team's advanced use of satellite data and problem-solving AI algorithms offer businesses the precise, actionable insights needed to effectively manage and mitigate climate-related risks, which are only increasing in frequency and severity."

With the Earth Observation market predicted to reach $14.6 billion by 2034, LiveEO is well-positioned to capitalize on the growing demand for advanced climate risk management solutions. The company has already tripled its growth since last year and expanded its workforce to around 130 international employees.