Berlin-based LiveEO has secured €25 million in funding to utilize AI-powered satellite data for critical infrastructure and climate risk management. The company leverages high-resolution satellite data and proprietary algorithms to generate accurate, timely, and actionable insights that assist infrastructure operators in managing climate risks and enhancing resilience.
The recent funding round will accelerate LiveEO’s development after the company experienced tripling growth in 2023. LiveEO uses satellite technology, including multispectral and Synthetic Aperture Radar (SAR), to deliver high-resolution analytics. These advanced AI techniques enable businesses to detect and respond to extreme weather events, deforestation, and environmental risks such as vegetation encroachment on power lines or ground deformation near railways, in near-real-time.
By harnessing satellite data, LiveEO helps companies reduce their carbon footprint, comply with evolving regulations, and increase climate resilience. Although fragmented raw data from multiple satellites can be challenging to integrate and often inaccurate, LiveEO’s platform effectively addresses these issues. The Earth Observation market is predicted to grow from €6.8 billion in 2024 to €14.6 billion by 2034.
LiveEO’s platform is already used by Europe’s largest railway operator, Deutsche Bahn, to safeguard its assets, a Nigerian pipeline operator to address oil theft and mitigate losses, and to curb illegal logging in Moldova. The platform boasts partnerships with Accenture, AWS, and SAP, and serves customers such as E.ON, Iberdrola, and Network Rail.
Daniel Seidel, co-founder and co-CEO of LiveEO, stated, “Our mission at LiveEO is to harness the power of satellite data to protect our planet and make industries more sustainable.” The new funding will further this mission by enabling the company to support businesses worldwide in facing climate, environmental, technological, and regulatory challenges. Seidel also highlighted that the EU deforestation regulation (EUDR) is creating a mass market for EO analytics, benefiting both their customers and the planet.
Source: LiveEO secures €25M to analyse climate data from satellites.
