In this article, we will explore our client LiveEO's EOinTime project and discuss the recent funding it secured following its success in winning the EIC Accelerator grant.
In the evolving landscape of geospatial and mapping data, satellites remain instrumental in sourcing crucial information. However, the challenge lies in transforming raw data into actionable insights for enterprises.
LiveEO, a Berlin-based startup, has emerged as a frontrunner in innovation with its satellite analytics platform. The company achieved a dual triumph by securing a substantial €19 million funding round and EIC Accelerator funding in 2022, highlighting the robust demand for its technology in the transportation and energy infrastructure sectors.
Led by MMC Ventures, the €19 million funding round, including €17 million in venture capital and contributions from the European Commission and Investitionsbank Berlin, solidifies LiveEO's standing in the field.
All existing shareholders, including DvH Ventures, Helen Ventures, Motu Ventures, and Matterwave Ventures as manager of the btov Industrial Technologies Fund, maintained their support. New investors Segenia Capital and Hannover Digital Investments (HDInv) have joined the round, alongside MMC.
This success builds on the company's prior achievement, as LiveEO received a non-dilutive grant of €1.735 million from the European Commission over a 2-year duration.
The project LiveEO applied with, titled "EOinTime" fuses advanced machine learning with satellite data analysis, revolutionizing infrastructure monitoring. It identifies threats to critical elements like electricity lines, railways, and pipelines by analyzing vegetation. Moreover, it detects ground movement and third-party activities near vital infrastructure.
This innovation facilitates strategic infrastructure planning and reduces disruptions in supply chains, travel logistics, and power distribution. Through real-time surveillance and comprehensive time series analysis, EOinTime promptly identifies risks, enabling proactive measures to safeguard vital infrastructure.
Securing a spot within the EIC Accelerator is a notable achievement, with only 74 companies out of over 1000 contenders receiving funding in the March 2022 round (see winner list here). Futuro Perfecto proudly supported LiveEO throughout this journey, anticipating the positive trajectory of the EOinTime initiative.
LiveEO's accomplishment resonates within the context of an increasingly investment-savvy space sector in Europe.
Find out more about the company here: LiveEO