LiveEO, a German-based Earth Observation asset monitoring technology start-up, has secured €5.25 million ($6.35 million) in funding to expand its operations globally.
The Series A investment has been secured from venture capital firms btov Partners, Helen Ventures, DvH Ventures, and Motu Ventures as well as from deep technology investor Andreas Kupke.
Daniel Seidel, co-founder of LiveEO, said: “This funding round is a huge milestone for LiveEO. 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.”
LiveEO combines data acquired from satellite imagery and from other sources and then uses artificial intelligence to analyse the data to monitor critical infrastructures such as railways, electricity grids and pipelines.
The startup has plans to introduce their technology in other sectors including construction, mining, insurance, forestry, agriculture and finance.