LiveEO | Successful Funding of $10M enabling our Head Start in Deforestation Compliance Market
Summary
This achievement, realized under challenging market conditions, reflects the unwavering confidence of our existing investors and the commitment of our new partner, the greentech VC Greencode Ventures, to our shared vision of a sustainable future.LiveEOs journey is marked by the groundbreaking use of satellite data and AI to revolutionize industries and champion sustainability. Our continuously accelerating growth shows that the value of LiveEOs products is not negatively affected by current adverse macroeconomic conditions.The introduction of the European Union Deforestation Regulation (EUDR) marks a new chapter for us. We have secured major European household brands in the food and non-food sectors as customers as the industry is beginning to ready themselves for the new regulatory requirements.LiveEOs traction and the rapid growth in our infrastructure offering in Q4 set the stage for quickly advancing conversations with VCs from the US and Europe towards the second closing of our financing round. LiveEO is one of the very few companies in climate tech that not only have a high potential but are already generating sustainable multi-million revenue derived from solutions successfully combining AI and satellite technology, says Dr. Terhi Vapola, Founder & Managing Partner of Greencode Ventures.With our EUDR product, LiveEO is pioneering a new frontier in earth observation. Our approach leverages the robust AI & deep tech stack from our infrastructure products, providing us with an effective moat against project-oriented competitors and new entrants to satellite analytics that lack the infrastructure to deliver global high-quality monitoring.We deeply appreciate the trust and support from our partners and clients, which fuels our progress.