HEO Secures $25M for Deep Space Situational Awareness
Australian startup HEO closes a $25M Series B to scale its non-Earth-imaging network into Geostationary Orbit, targeting 90% coverage of all man-made space objects.
Terminal Entry: HEO Expansion Protocol
Non-Earth-imaging (NEI) specialist HEO has secured $25M in Series B funding to scale its orbital monitoring capabilities into Geostationary Orbit (GEO). According to Payload, the round was led by Beaten Zone Venture Partners, with significant participation from the Australian National Reconstruction Fund Corporation (NRFC), DCode Capital, Wunala Capital, and existing backers Airtree and Salus Ventures.
GEO Frontier
HEO currently operates a network of over 50 sensors in Low Earth Orbit (LEO), utilizing a hybrid model of proprietary hardware and integrated partner sensors from providers like Planet and BlackSky. The new capital injection is earmarked for GEO deployment, a critical high-altitude regime for telecommunications and military assets. CEO Will Crowe noted that the high cost of traditional GEO solutions makes a commercial alternative attractive to government clients seeking budget efficiency. The company aims to monitor 90% of all man-made objects in orbit.
Scaling the Sensor Mesh
Two launches are already scheduled to initiate HEO's GEO presence, with the first sensor expected to fly before the end of this year. Full, repeatable GEO imaging services are projected for 2027. This hardware expansion follows a period of aggressive growth; HEO has tripled its year-over-year revenue, fueled by contracts with the NRO, the UK Space Agency, Japan’s Ministry of Defense, and the Australian Department of Defence.
Crowe anticipates a future requirement of over 1,000 sensors across multiple orbits to achieve total situational awareness. By acquiring assets like an in-orbit satellite from Satellogic and seeking further partnerships with operators like Vantor, HEO is positioning itself to lead the burgeoning NEI market.