HEO Raises $25M to Expand Space Imaging Network to GEO
HEO closed a $25 million Series B round led by Beaten Zone Venture Partners to grow its non-Earth imaging network into geostationary orbit. The company plans to launch its first GEO sensors before year-end and begin regular imaging services by 2027. HEO aims to monitor 90% of space objects with an expanded constellation.
HEO’s network currently relies on a mix of partner-owned cameras and its own hosted payloads, with recent additions from Planet and BlackSky. The company also acquired an in-orbit satellite from Satellogic earlier this year and may pursue similar purchases to accelerate growth. Its government contracts include work with the NRO, Australia’s Defence Department, the UK Space Agency, and Japan’s Ministry of Defense.
The Series B follows a period of rapid commercial expansion, with revenue tripling annually since its 2023 Series A. CEO Will Crowe emphasized that achieving broad coverage will require over a thousand cameras across multiple orbits within a decade. The first two GEO sensors are scheduled for launch before year-end, with regular service targeted for 2027.
This funding could reshape how governments and commercial operators track objects in geostationary orbit, where current monitoring relies heavily on expensive ground-based systems. If HEO delivers cost-effective imaging at scale, it may lower barriers for smaller nations and private firms to gain situational awareness. However, reliance on a single commercial provider for critical space traffic data could introduce new vulnerabilities, and the timeline for full coverage remains ambitious.