19 million euros for Live EO

The Berlin-based start-up wants to use satellites to improve infrastructure monitoring. The company has now raised new funding.

The start-up Live EO has announced the completion of its largest financing round to date. In the round led by MMC Ventures, the company raised around 19 million euros. Segenia Capital and Hannover Digital Investments participated in the round. Existing investors Dieter von Holtzbrinck Ventures, Helen Ventures, Matterwave and Motu Ventures are also investing in the company again. The financing consists of 17 million euros in venture capital and additional funds from the European Commission and Investitionsbank Berlin.

The SaaS provider offers solutions for the satellite-based monitoring of facilities and critical infrastructure. For example, railroads, power lines and factories can be monitored. With the help of satellite data and artificial intelligence, customers can obtain information about risks and receive predictions about the condition of objects. This means that potential damage can be prevented at an early stage and maintenance can be planned in good time.

"After the huge investment in rockets and satellites in recent years, it's time for companies like us to develop highly automated applications that turn the data from hundreds of Earth observation satellites into real value for end users," said Daniel Seidel, co-founder and co-CEO of Live EO. He founded the start-up together with Sven Przywarra. The founders want to use the new capital to drive global expansion and finance entry into new markets such as insurance.