When it comes to geospatial and mapping data and how they are leveraged by organizations, satellites play an important role when it comes to obtaining raw information. Getting that raw data into a state that is usable by enterprises, however, is a different story. Today, a Berlin-based startup said liveeoWhich has created a satellite analytics platform to do this, has raised €19 million ($19.5 million) due to strong demand for its technology from companies operating in transportation and energy infrastructure.
The rise of companies like LiveEO comes on the back of a period of rapid commercialization in infrastructure used in space, typified by companies like SpaceX, but building others, for example, a new wave of satellites themselves. With huge opportunity in enterprise IT, big data players like LiveEO are essentially the second wave of that growth: applications that leverage that infrastructure.
“One has to build applications for end users so that it is easy to actually use that data and integrate it into processes,” explained Daniel Seidel (left), who co-founded LiveEO with Sven Przyvera (right). Founded and co-led. “That’s what we’re doing in a big way.”
MMC Ventures is leading the investment, a Series B, and in addition to €17M of venture capital, the round includes support from two public bodies, the European Commission and InvestmentBank Berlin. Previous backers Dieter von Holtzbrink Ventures (DVH Ventures), Helen Ventures, Matterwave, and Motu Ventures, and new backers Segenia Capital and Hannover Digital Investments (HDINV) are also participating. LiveEO previously raised €5.25 million Series A in 2021, and it said that in that time, it has tripled revenue with customers in five continents and more than half of its engineers and data scientists, bringing its headcount to nearly 100. has been doubled.
As a German startup, LiveEO is one of a small but growing group of startups in Europe that are capitalizing on Growing interest in the space among investors In recent years, despite widespread pressure on technical finance. Relatively speaking, however, the amounts are still modest compared to other areas of technology: LiveEO says this €19 million round is the largest in Earth observation technology in Europe. LiveEO is focused on enterprise, especially its analysis for industrial applications – however given the geopolitical landscape, and how it is bringing in a new host of interested parties playing the role of financiers to fuel its growth, It will be interesting to see how it develops.
LiveEO’s platform addresses a specific gap between space tech and enterprise data. Satellites are collectively producing more data about our world than ever before, covering not only physical objects in the tiniest detail, but also thermal progress, how systems are operating, and more.
Ironically, much of that data is off when it comes to the enterprises that use it: given the fragmentation in the satellite industry itself, the data is not only in very raw, formats, but also from multiple sources. It comes, therefore, in forms that can be integrated into existing IT systems and especially (and more difficult) IT systems that integrate with the infrastructure that is the building block of a lot of industrial deployments. Is – let alone parsing it for insight – are all lengthy tasks, so much so that opportunities to do them often become unrealistic.
The core of the company’s platform brings it all together, which LiveEO describes as an “infrastructure monitoring suite powered by satellite imagery.” This involves taking Earth observation data produced by satellites and applying AI to analyze it in the context of LiveEo’s industrial customers – including major railway companies such as Deutsche Bahn, or the energy company E.One – trying to understand better. have been.
This may include data on hazards from vegetation on railways or other lines; ground deformation; or other physical activities or activities; And it also includes the ability for a LiveEO user to link this data directly with their IT management systems for their infrastructure, for example those who monitor the systems to make sure they are working as they should. They should. It also projects its solution as green: it uses satellites to source the kind of geographic data that these industrial applications need, which means teams on the ground to source it in other ways. And there is no need to use vehicles.
“One of the great benefits of satellite data is that we don’t need to install hardware in the infrastructure itself,” Prizvar said.
That data, he believes, is even more complete: as Seidel describes it, combining terabytes of data from multiple sources means it’s not just 3D, but “4D”- Thermal and other types of detail are available, “as is the difference between using an image from a smartphone and a high-end camera with a higher resolution.”
All of this is still a relatively new area, Prizivara said. “Before Google Earth, satellite maps were only used by experts,” he said. “We enable more non-experts to access satellite data. We make it accessible and usable.”
Lead Investor MMC is one of the more prominent deep tech investors in Europe, and it is noteworthy that they are focusing on this area as an opportunity.
“We are excited to lead this round for LiveEO, and this reflects MMC’s continued focus on emerging datasets and companies that develop AI analytics,” Andrei Dvornik, a principal at MMC Ventures, said in a statement. “LiveEO provides a critical tool that paves the way for sustainable industry automation, and we are leveraging the company’s vision of the latest developments in satellite technologies, big data and artificial intelligence to help companies adapt to the challenges posed by climate change. wholeheartedly support.”