LiveEO secures a further $10 million in first closing
Berlin, Nov 29, 2023
We are excited to share a significant milestone in LiveEO's journey: the successful first closing of our next financing round, securing $10M. This achievement, realized under challenging market conditions, reflects the unwavering confidence of the existing investors and the commitment of the new partner, the greentech VC Greencode Ventures, to LiveEO's shared vision of a sustainable future.
LiveEO's journey is marked by the groundbreaking use of satellite data and AI to revolutionize industries and champion sustainability. The AI models are already enhancing the climate resilience of critical infrastructure networks globally, including collaborations with E.ON and networks in the USA, Australia, and Japan. This year, these efforts have led to a tripling of the revenues. The continuously accelerating growth shows that the value of LiveEO’s products is not negatively affected by current adverse macroeconomic conditions.
The introduction of the European Union Deforestation Regulation (EUDR) marks a new chapter for LiveEO. The regulation mandates companies to verify their imported commodities do not contribute to deforestation. LiveEO is poised to lead in this new market with our deforestation monitoring solution.
Read the full release here!