Helen Venture’s said it took park in 5.25-million euro Series A investment round of Berlin-based LiveEO, an Earth Observation asset monitoring startup, alongside several other investment firms.
The funding round strengthens LiveEO’s sales development and expansion into new markets.
LiveEO analyzes satellite imagery with artificial intelligence to monitor infrastructure grids such as railways, electricity grids or pipelines and enables the operators of these assets to save operational expenses and improve performance.
Currently, LiveEO can count more than 30 grid operators from all over the world as their customers including Deutsche Bahn (Europe’s biggest railway operator), electrical grid operators such as multiple E.ON subsidiaries including e.dis, Bayernwerk (Germany), Tensio TS AS (Norway), E-Redes (former EDP, Portugal) and pipeline operators such as Gascade (Germany).
“Over the last 3 years we’ve built up a unique technology stack to analyze earth observation data at scale and we now can realize many new revolutionary features on the basis of this tech backbone.”Daniel Seidel, co-founder of LiveEO
“Additionally we will be able to invest heavily in our sales and business development teams to bring our space-based technology to more customers all over the globe”Sven Przywarra, LiveEO’s co-founder
After the funding round LiveEO will focus on strengthening their business development to build up a global partner and customer network, aim for the market leadership position in the utility market, and start the expansion into the US and adjacent markets.