HEO secures Series B funding to expand satellite imaging in GEO

Australian space startup HEO has secured funding through a Series B round to expand its satellite imaging network into geostationary orbit (GEO). Reports indicate the funding amount is between $25 million and $37 million.

The capital will be used to deploy more cameras and sensors to monitor space objects, specifically targeting the GEO belt where critical communication and observation satellites operate. HEO aims to monitor 90% of all space objects currently in orbit. The company’s strategy involves a mix of internally developed sensors and partnerships with existing satellite constellation operators, such as Planet and BlackSky.

Led by Beaten Zone Venture Partners, the funding round also included participation from Australia’s National Reconstruction Fund Corporation, DCode Capital, and Wunala Capital. HEO has scheduled two launches to begin its GEO sensor deployment, with reliable imaging services expected to commence in 2027.