HEO

Space Tech · Satellite Imaging · Defense

Funding

HEO raises $37M Series B after landing $100M+ satellite surveillance deal

Its cameras now aim to watch geostationary orbit, where rival nations' satellites already shadow allied hardware.

• HEO closed a $37 million Series B led by Beaten Zone Venture Partners, with $10 million from Australia's National Reconstruction Fund, alongside a five-year contract worth more than $100 million.
• HEO builds satellite-mounted cameras and software that image other spacecraft in orbit, serving both commercial maintenance checks and government space-surveillance missions.
• The funding will push HEO's camera network into geostationary orbit, where many high-value communications and national-security satellites operate, with first GEO launches expected later this year.
• HEO already operates a network of more than 50 in-orbit cameras and counts Japan's government, Australia's Department of Defence and the US National Reconnaissance Office among its customers.
• The round follows an $8 million Series A in 2023, and HEO says its 36-person team will grow to 85 by 2028 to support the expansion.
• Sovereign investment in commercial satellite-inspection capability signals how allied governments are turning to private space firms to fill gaps in tracking rival nations' activity in orbit.