HEO Raises $25 Million to Expand Space Imaging Network Into GEO

Australian space intelligence company HEO has raised $25 million in Series B funding to expand its non-Earth imaging network into geostationary orbit (GEO).

The round was led by Beaten Zone Venture Partners and included Australia’s National Reconstruction Fund, Dcode Capital and Wunala Capital, along with existing investors Airtree and Salus Ventures.

HEO currently has access to more than 50 imaging sensors in orbit and operates a network designed to capture and analyze imagery of spacecraft and other objects in space.

The company combines cameras aboard existing Earth observation satellites with its own proprietary sensors, using software and AI models to identify imaging opportunities, task satellites and turn imagery into intelligence about objects in orbit.

The new funding will support HEO’s expansion into GEO, where many telecommunications, weather and national security satellites operate but commercially available spacecraft imagery remains limited.

HEO has booked its first two GEO launches, beginning later this year, and plans to establish recurring GEO imaging coverage in 2027.

The company will also use the funding to deploy additional sensors, expand partnerships with satellite operators and develop its intelligence software.

HEO CEO and Co-Founder Dr. William Crowe said the funding will allow the company to extend its imaging network into GEO and improve access to visual intelligence on spacecraft when required.

Beaten Zone Venture Partners founder and lead investor Steve Baxter highlighted the growing demand for space domain awareness, while National Reconstruction Fund Corporation CEO David Gall said the investment will support Australia's sovereign space and defense capabilities.

HEO customers already include the U.S. National Reconnaissance Office (NRO), Defence Australia, Japan Ministry of Defense, UK Space Agency, Astroscale and Bull Co.

Image Credits: HEO