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When it comes to geospatial and map data and how organizations utilize them, satellites continue to play a key role in obtaining raw information. However, transforming this raw data into a state that can be used by the enterprise is another matter.Today, a Berlin-based startup called LiveEOThe company, which has built a satellite analytics platform for this purpose, has raised 19 million euros ($19.5 million) due to strong demand for its technology from companies working in transport and energy infrastructure.

The rise of companies such as LiveEO comes against a backdrop of a period of rapid commercialization of infrastructure designed to be used in space, exemplified by companies such as SpaceX, but others are also building, for example, a new wave of satellites themselves. Like the larger opportunity in enterprise IT, big data players like LiveEO are essentially the second wave of this evolution: applications built with that infrastructure.

“Someone has to build applications for the end user to really simplify using and integrating this data into processes,” explains Daniel Seidel (left), who co-founded and co-leads LiveEO with Sven Przywarra (right). “That’s what we’re doing at scale.”

MMC Ventures led the Series B investment, which included support from two public institutions, the European Commission and the Berlin Investment Bank, in addition to a €17 million venture capital round. Previous backers Dieter von Holtzbrinck Ventures (DvH Ventures), Helen Ventures, Matterwave and motu Ventures, as well as new backers Segenia Capital and Hannover Digital Investments (HDInv) also participated. LiveEO had previously raised a €5.25 million Series A in 2021, and the company said it tripled its customer revenue across five continents and more than doubled its workforce to about 100 people in that time. More than half of them are engineers and data scientists.

A German startup, LiveEO is one of the few but growing startups in Europe. Investor interest in space increases In recent years, although tech finance has come under greater pressure. Still, the sum is still small compared to other technology fields, in relative terms: LiveEO said the €19 million funding was one of the largest in Europe for Earth observation technology. LiveEO is focused on the enterprise, especially the industrial application of its analytics – although given the geopolitical landscape and how this will bring a new set of stakeholders to play the role of financiers to fuel its growth, seeing how it evolves is an interesting thing.

LiveEO’s platform addresses specific gaps between space technology and enterprise data. Together, satellites are producing more data about our world than ever before, covering not only the tiniest physical objects, but also thermal processes, how systems move, and more.

Ironically, when businesses use it, a lot of the data is locked up: Given the fragmentation of the satellite industry itself, this data is not only often in a very raw format, but comes from multiple sources, so getting it into something that can The form of integration into existing IT systems, especially the (more tricky) IT systems that are integrated with infrastructure, which is an integral part of many industrial deployments – let alone parsing it for insight – is daunting tasks, so many that the opportunity to do them often goes unrealized.

The core of the company’s platform brings all of this together, which LiveEO describes as a “satellite imagery-driven infrastructure monitoring suite.” This involves taking satellite-generated Earth observation data and applying artificial intelligence to it in order to better understand it in the context of LiveEO’s industrial customers, including major rail companies such as Deutsche Bahn or energy company e.on, seeking to better understand them. analysis.

This may include data on rail or other line vegetation risk; ground deformation; or other body movements or activities; it also includes the ability for LiveEO users to directly integrate this data to connect to their own IT management systems infrastructure, such as those monitoring systems to ensure they work properly. It also advertises its solution as greener: using satellites to acquire the geographic data needed for these industrial applications means there is no need to use ground teams and vehicles to acquire that data in other ways.

“One of the great advantages of satellite data is that we don’t need to install hardware in the infrastructure itself,” Przywarra said.

The data, they argue, is also more complete: as Seidel describes it, the combination of terabytes of data from multiple sources means it’s not just 3D, but “4D”—with thermal and other kinds of detail, “like The difference between using a smartphone image and a high-resolution high-end camera.”

All of this is still relatively new territory, Przywarra added. “Before Google Earth, satellite maps were only for experts,” he said. “We made satellite data available to more non-experts. We made it easy to access and use.”

Lead investor MMC is one of the better-known deep tech investors in Europe, and it is worth noting that they are focusing on this area as an opportunity.

Andrei Dvornic, head of MMC Ventures, said in a statement: “We are excited to lead this round of funding from LiveEO, which reflects MMC’s continued focus on emerging datasets and companies developing AI analytics to drive core business decisions. “LiveEO provides a key tool that paves the way for sustainable industry automation, and we wholeheartedly support the company’s vision of using the latest developments in satellite technology, big data and artificial intelligence to help companies adapt to the challenges posed by climate change.”

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