19 million euros for Live EO

With the help of satellites, the Berlin-based start-up wants to improve the monitoring of infrastructure. Now the company is raising new funding.

Startup Live EO has announced the closing of its largest funding round to date. In the round, led by MMC Ventures, the company raised around €19 million. 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 funding consists of €17 million in venture capital and additional funding from the European Commission and Investitionsbank Berlin.

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

"After the huge investments in rockets and satellites in recent years, it's time for companies like us to develop highly automated applications that turn 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 co-founded the startup with Sven Przywarra. The founders plan to use the new capital to drive global expansion and fund entry into new markets such as insurance.