NordicNinja and DeepTech & Climate Fonds (DTCF) led a €25 million Series B funding round for LiveEO, a global leader in using AI and high-resolution satellite data to turn raw satellite data into automated actionable insights to help companies manage their climate risks and resilience. With this funding, LiveEO will grow its workforce and skills while expediting the development of its cutting-edge solutions.
The expansion of LiveEO’s platform, which makes use of AI and state-of-the-art satellite technology, has tripled since the previous year. Businesses may use its high-resolution analytics to quickly identify and address environmental hazards, deforestation, and extreme weather occurrences. This aids businesses in maintaining regulatory compliance, managing infrastructure, lowering carbon footprints, and boosting climate resilience. By 2034, the market for Earth observation is projected to have grown from $6.8 billion in 2024 to $14.6 billion.
The biggest railway company in Europe, Deutsche Bahn, relies on LiveEO’s platform to protect its investments. It has also assisted a Nigerian pipeline operator in combating oil theft and averting losses up to millions of dollars, as well as in putting an end to illicit forestry in Moldova. However, with partners like Accenture, AWS, and SAP and customers like EON, Iberdrola, and Network Rail, LiveEO’s ability to easily, rapidly, and reliably monitor large or remote locations is something that all industries stand to gain from.
“Our mission is to harness satellite data to protect our planet and make industries more sustainable,” said LiveEO co-founder and co-CEO Daniel Seidel. Our goal will be expedited with the new investment, empowering companies to address risks related to technology, the environment, climate change, and regulations. With the EU deforestation rule (EUDR) opening up a sizable market for EO analytics, TradeAware, our scalable solution, helps the environment and our clients at the same time.
NordicNinja Partner Rainer Sternfeld stated: “We are thrilled to assist the LiveEO team. I have built data platforms for Earth observation and renewable energy in Silicon Valley and Europe, so I am aware of the prospects and challenges in this field. Businesses can manage and reduce growing climate-related risks with the help of LiveEO’s sophisticated satellite data and AI algorithms. We think LiveEO is in a unique position to support businesses in overcoming these obstacles and fostering a more sustainable future.
“As investors committed to accelerating the growth of innovative technology companies across Europe, we are particularly excited about LiveEO’s innovative approach to transforming earth observation,” stated Dr. Elisabeth Schrey, a partner at DCTF. LiveEO is distinguished by its exceptional group of technologists and its platform, which integrates state-of-the-art data engineering and artificial intelligence capabilities. Because of its solid base, LiveEO is able to provide essential tools that open the door for long-term automation across a variety of industries.
Following recent expansion, LiveEO now employs about 130 people worldwide. With the latest €25 million investment, the Berlin-based company has now raised €51.6 million in total. Existing investors Dieter von Holtzbrinck Ventures (DvH Ventures), MMC Ventures, Matterwave, motu ventures, Segenia Capital, Hannover Digital Investments, and others are joined by NordicNinja and DTCF.
