AI Remote Sensing Monitors Deforestation, LiveEO Secures $10 Million in Funding
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36Kr has learned that AI remote sensing application company LiveEO has completed a $10 million funding round led by green technology venture capital firm Greencode Ventures. This round of funding will facilitate the company's development of deforestation monitoring solutions and accelerate its entry into the EU Deforestation Regulation (EUDR) compliance and deforestation monitoring markets.
Founded in 2018 in Berlin, LiveEO plans to leverage AI and satellite data to promote sustainability across various industries. After several years of AI model training, its products have helped enhance climate resilience for critical infrastructure networks worldwide, including collaborations with E.ON and market expansions in the U.S., Australia, and Japan. This year, LiveEO's revenue has tripled.
The EU Deforestation Regulation (EUDR) is an important legislation introduced by the European Union to prevent imported goods from being linked to global deforestation and degradation.
The regulation emphasizes that commodities and products entering the EU market must not have a direct or indirect impact on deforestation. Its core objectives are to reduce global deforestation, protect biodiversity, and combat climate change. The main requirements of the regulation include:
This regulation has rapidly increased the attention on remote sensing applications in related markets. Satellite remote sensing can utilize high-resolution satellite imagery for large-scale, efficient forest monitoring, and employ AI algorithms to analyze remote sensing data, identifying areas of deforestation and degradation. LiveEO has developed a related dashboard, accessible via web applications or directly through APIs in existing systems, to obtain evidence of afforestation and deforestation for each supplier. LiveEO also provides automated reporting features to help companies meet regulatory requirements in a one-stop manner.
Image source: LiveEO
The company initially focused on providing monitoring services for power and rail networks using satellite data, attracting major clients such as Deutsche Bahn (DB). As the business grew, LiveEO gradually expanded into other sectors. Currently, livestock farming and the food processing industry are the main customer base for LiveEO's forest monitoring services, with partnerships established with several well-known European food brands.
Today, LiveEO employs nearly 100 people. According to investors, the company's annual revenue has reached millions of dollars. Previously, it secured €19 million in funding.
LiveEO seized the opportunities brought by policy trends to vigorously develop the niche market of forest monitoring, offering new insights for China's remote sensing application companies. The traditional boom in land and natural resource surveys has passed, and relying solely on land management applications can hardly sustain business growth. Companies must adapt to new policy changes and identify emerging trends to seize opportunities.
Under the guidance of the '3060' dual carbon goals, various industries and government departments in China will formulate more corresponding measures. How to propose new solutions tailored to the needs of each specific industry will be the key focus for the development of remote sensing companies in the future.