Australian space imaging startup HEO has secured $25 million in a Series B funding round. The investment was led by Beaten Zone Venture Partners, with contributions from the National Reconstruction Fund Corporation, DCode Capital, Wunala Capital, Airtree, and Salus Ventures.
The company intends to use the capital to expand its imaging network into geostationary orbit. HEO currently operates over 50 sensors in space, utilizing both partner-owned cameras and its own hosted payloads. The goal is to monitor 90% of all space objects on orbit.
HEO has scheduled two launches to initiate its GEO sensor network, with the first flight expected by the end of this year. The company aims to provide a reliable GEO imaging service by 2027. CEO Will Crowe stated that the long-term goal is to deploy over 1,000 cameras.
Since its $8 million Series A round in 2023, the startup has tripled its annual revenue. This growth is attributed to securing significant contracts with international government entities.
