HDI unit invests in AI-powered spacetech startup LiveEO
Hannover Digital Investments GmbH (HDInv), venture capital company of HDI Group, has invested in Berlin-based spacetech startup LiveEO, which provides AI-powered satellite-based monitoring.
LiveEO offers "Software-as-a-Service" (SaaS) solutions for satellite-based monitoring of facilities and critical infrastructures. The company accesses satellite data from various providers and supplies its customers with actionable insights into the risks associated with vegetation, ground deformation or third parties. On this basis artificial intelligence is able to make predictions about the condition of and changes affecting buildings, streets, rail networks, forests, factories, energy producers and other infrastructure, thereby enabling the early planning and implementation of maintenance and repairs.
The company has secured €19 million in its latest funding round from lead investor MMC Ventures and other existing investors DvH Ventures, Helen Ventures and Matterwave, Segenia Capital and HDInv also came on board. In addition, the public sector has committed to provide financial assistance in support of the technology.
LiveEO plans to use the investment to accelerate market growth in the infrastructure sector and open up new markets.
Ulrich Wallin, managing director of Hannover Digital Investments GmbH, said: "The Berlin-based start-up LiveEO offers companies and institutions an efficient and smart way to monitor their infrastructure. This enables potential damaging events to be detected and prevented at an early stage, making companies more resilient to climate change, for example."
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